CHAPTER 1505. OBLIGATIONS FOR COASTAL MUNICIPALITIES FOR COASTAL MATTERS

State Codes and Statutes

Statutes > Texas > Government-code > Title-9-public-securities > Chapter-1505-obligations-for-coastal-municipalities-for-coastal-matters

GOVERNMENT CODE

TITLE 9. PUBLIC SECURITIES

SUBTITLE J. SPECIFIC AUTHORITY FOR MUNICIPALITIES TO ISSUE

SECURITIES

CHAPTER 1505. OBLIGATIONS FOR COASTAL MUNICIPALITIES FOR COASTAL

MATTERS

SUBCHAPTER A. BONDS FOR HARBOR IMPROVEMENTS IN MUNICIPALITIES

BORDERING GULF OF MEXICO

Sec. 1505.001. APPLICABILITY OF SUBCHAPTER. This subchapter

applies only to a municipality that borders the Gulf of Mexico.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.002. AUTHORITY TO ISSUE BONDS FOR HARBOR IMPROVEMENTS.

A municipality may issue bonds necessary to improve or aid the

improvement of a harbor of the municipality or a bar at the

entrance of the harbor.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.003. AMOUNT OF BONDS. A municipality may issue bonds

under this subchapter in an amount:

(1) the municipality considers necessary; and

(2) that does not exceed a limit on debt set by the municipal

charter.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.004. SURPLUS BONDS. A municipality may sell any

available bonds not needed for the purpose for which the bonds

were issued to improve or aid the improvement of a harbor of the

municipality or a bar at the entrance of the harbor.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

SUBCHAPTER B. BONDS FOR NAVIGATIONAL FACILITIES IN CERTAIN

COASTAL MUNICIPALITIES

Sec. 1505.051. APPLICABILITY OF SUBCHAPTER. This subchapter

applies only to a municipality that:

(1) is located in a navigation district organized under the

general laws of this state; and

(2) has a deepwater port located in the municipality.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.052. DEFINITION. In this subchapter, "project" means:

(1) a facility purchased, constructed, improved, enlarged, or

repaired by a municipality as described by Section 1505.053; and

(2) land acquired or improved by a municipality as described by

Section 1505.053.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.053. AUTHORITY FOR NAVIGATIONAL FACILITIES. A

municipality may:

(1) own, purchase, construct, operate, improve, enlarge, repair,

or maintain a bridge over or across any stream, inlet, or arm of

the Gulf of Mexico or entrance canal to the deepwater port of the

municipality that connects any of the public streets, highways,

or thoroughfares of the municipality;

(2) own, purchase, construct, repair, maintain, operate, or

lease:

(A) a wharf, pier, pavilion, or boathouse; or

(B) a dam, dyke, or spillway with a road or bridge on or over it

to create a freshwater supply basin for domestic, irrigation, and

other purposes in the navigation district in which the

municipality is located or in a county adjacent to the freshwater

basin;

(3) acquire, reclaim, reconstruct, or fill in any submerged land

along the waterfront of the municipality and construct, operate,

or maintain a water main, gas main, storm sewer, sanitary sewer,

sidewalk, street, or similar improvement in connection with that

land;

(4) construct a seawall, breakwater, or other shore protection

to protect the waterfront of the municipality; and

(5) construct, reconstruct, maintain, operate, or dredge a

channel in connection with a deepwater port in aid of navigation

within the municipality.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.054. AUTHORITY TO ISSUE BONDS. A municipality may

borrow money and by ordinance may issue bonds for a purpose

described by Section 1505.053.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.055. AUTHORITY TO BORROW FROM UNITED STATES. (a) To

construct and maintain a project, a municipality may borrow money

from the United States or an agency of the United States created

for the purpose of making such a loan.

(b) To obtain the loan, a municipality may encumber:

(1) the property and facilities of the project acquired or to be

acquired;

(2) the revenue and income from the operation of the project

acquired or to be acquired; and

(3) anything relating to the project acquired or to be acquired.

(1) encumber the net revenue and income from the operation of

all projects; and

(2) provide in the encumbrance for a grant, to a purchaser under

sale or foreclosure, of a franchise to operate the encumbered

project for a term not to exceed 20 years from the date of

purchase, subject to all laws regulating the same then in force.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.056. PAYMENT OF BONDS. The principal of and interest

on bonds issued under this subchapter are payable solely from

revenue, including rents and other charges received from any

reclaimed or reconstructed land, derived from the project for

which the bonds were issued.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.057. ENCUMBRANCE AS ADDITIONAL SECURITY. (a) As

additional security for the payment of the principal of and

interest on bonds issued under this subchapter, a municipality

may encumber any part or all of a project undertaken with funds

derived from the bonds.

(b) An encumbrance entered into under this section:

(1) may provide for a grant, to a purchaser under sale or

foreclosure, of a franchise to operate the encumbered project for

a term not to exceed 20 years from the date of purchase, subject

to all laws regulating the same then in force; and

(2) shall:

(A) provide for a trustee to enforce foreclosure; and

(B) provide the municipality with the option at any five-year

period within the 20-year term after purchase to repurchase a

project, other than reclaimed land acquired by an individual

purchaser, under reasonable terms and at a reasonable price

stated in the encumbrance.

municipality shall manage and control a project while it is

encumbered under this section.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.058. ADDITIONAL SECURITY FOR PROJECT RELATED TO

ACQUISITION OR CONSTRUCTION OF BRIDGE. As additional security, a

municipality that acquires or constructs a bridge using bonds

issued under this subchapter may pledge revenue from any project

carried out in connection with the acquisition or construction of

the bridge, including revenue or income from any submerged land

reclaimed or reconstructed and any improvement built on the land,

including a water main, gas main, storm sewer, sanitary sewer,

sidewalk, or street.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.059. BONDS NOT PAYABLE FROM TAXES. (a) A bond issued

under this subchapter:

(1) is not a debt of the municipality within the meaning of any

state constitutional or statutory limitation; and

(2) may not be included in determining the power of the

municipality to issue bonds for any purpose authorized by law.

(b) Each bond and coupon issued under this subchapter must state

on its face that:

(1) the bond or coupon is issued under this subchapter;

(2) the bond or coupon is not a debt of the municipality within

the meaning of any state constitutional or statutory limitation;

and

(3) the holder of the bond or coupon is not entitled to demand

payment of the bond or coupon from any money raised by taxation.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.060. ESTIMATE OF PROJECT COST; NOTICE OF INTENTION TO

APPROVE PROJECT AND ISSUE BONDS. (a) Before approving a project

under this subchapter, the governing body of the municipality

shall:

(1) obtain an estimate of the cost of the project; and

(2) give notice of its intention to approve the project.

(b) The notice must:

(1) describe the proposed project;

(2) state the estimated cost of the proposed project;

(3) state the amount, location, and use or disposition of any

land to be reclaimed;

(4) state the time the governing body proposes to adopt the

ordinance authorizing the proposed project and the issuance of

the bonds; and

(5) refer to the right to petition for an election as authorized

by Section 1505.061.

circulation in the municipality once a week for four consecutive

weeks, with the last publication being before the 20th day before

the date set for authorization of the proposed project and

issuance of the bonds.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.061. ELECTION. (a) If, before the time set for

action on the ordinance authorizing the proposed project and the

issuance of the bonds, a petition is filed with the municipal

secretary or municipal clerk requesting an election on the

approval of the project and the issuance of the bonds that is

signed by at least 100 registered voters of the municipality who

are listed on the most recent tax roll of the municipality as

owning property, the governing body of the municipality may not

approve the project or issue the bonds unless a proposition for

the approval of the project and the issuance of the bonds is

approved by a majority of the votes cast at an election held for

that purpose.

(b) The governing body shall conduct the election in the manner

provided by Chapter 1251.

project and issuance of the bonds regardless of whether a

petition is filed.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.062. CONTENTS OF ORDINANCE AUTHORIZING ISSUANCE OF

BONDS. (a) An ordinance authorizing the issuance of bonds for a

project under this subchapter must:

(1) briefly describe the proposed project;

(2) state the estimated cost of the project;

(3) include the amount, maximum rate of interest, time and place

of payment, and other details in connection with the issuance;

(4) specify:

(A) whether the project is to be operated on the basis of a

calendar, operating, or fiscal year; and

(B) the beginning and ending dates of that year;

(5) provide for:

(A) an operation and maintenance account; and

(B) a bond and interest redemption fund; and

(6) contain a substantial description of any franchise provided

in an encumbrance entered into under Section 1505.057.

(b) The governing body of the municipality shall covenant in the

ordinance, and on the face of each bond issued under this

subchapter, to at all times maintain charges for services

provided by the project in amounts sufficient to:

(1) pay:

(A) the principal of and interest on the bonds when payable;

(B) administration and operation expenses; and

(2) create the bond and interest redemption fund; and

(3) fund:

(A) a reserve for depreciation of the project; and

(B) a reserve for improvements and extensions of the project

other than those necessary to maintain the project.

additional bonds for extensions and permanent improvements to the

project.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.063. MATURITY. A bond issued under this subchapter

must mature not later than 45 years after its date.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.064. MEDIUM OF PAYMENT. A bond or coupon issued under

this subchapter after October 27, 1977, may be made payable in:

(1) United States currency; or

(2) gold coin of or equal to the standard of weight and fineness

existing on its date of payment.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.065. ADDITIONAL BONDS. (a) As provided in the

ordinance authorizing the issuance of bonds under this

subchapter, the municipality may issue and negotiate additional

bonds as necessary.

(b) Additional bonds that are sold are on a parity with bonds of

the same issue.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.066. SALE OF BONDS. (a) A municipality shall sell

bonds issued under this subchapter in the manner and under the

terms that the governing body of the municipality considers to be

in the best interest of the municipality.

(b) A municipality may make payments under a contract for a

project in bonds issued under this subchapter.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.067. DEPOSIT OF BOND PROCEEDS. The governing body of

a municipality that issues bonds under this subchapter shall:

(1) if practicable, require that:

(A) the bond proceeds be deposited in an account in a bank that

is a member of the Federal Reserve System; and

(B) each deposit be secured by direct obligations of the United

States that have an aggregate market value at least equal to the

amount of proceeds then on deposit; or

(2) if it is not practicable for the bond proceeds to be

deposited as provided by Subdivision (1), deposit the proceeds in

a bank or other depository that will secure the deposit to the

governing body's satisfaction.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.068. OPERATING EXPENSES AS FIRST LIEN. The reasonable

costs of administering and operating and the reasonable expense

of maintaining the project are a first lien against the revenue

and income from the operation of a project, superior to the lien

of any encumbrance on the project. From the revenue and income of

a project, the municipality shall, monthly or more frequently if

necessary, first deposit to the credit of the operation and

maintenance account an amount sufficient to pay those expenses.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.025(a),

eff. Sept. 1, 2001.

Sec. 1505.069. SALE OR LEASE OF RECLAIMED OR RECONSTRUCTED LAND.

A municipality that reclaims or reconstructs submerged land

under this subchapter may:

(1) sell, lease, or grant a franchise for the use of the land;

and

(2) use revenue from the sale, lease, or franchise as provided

by this subchapter.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.070. CHARGES. (a) The governing body of a

municipality shall set and at all times maintain charges for

services and facilities of the project, and for the sale of

reclaimed land, in amounts sufficient to pay, create, or fund, as

appropriate, each item listed in Section 1505.062(b).

(b) A state bureau, board, commission, agency, or

instrumentality may not supervise or regulate the amount of a

charge of the municipality. This subchapter does not affect a

power or duty of the Texas Board of Health.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.071. DEPOSITS TO BOND AND INTEREST REDEMPTION FUND.

(a) The municipality shall, monthly or more frequently if

necessary, deposit to the credit of the bond and interest

redemption fund an amount of money from the gross income and

revenue of the project sufficient to pay, when due, the principal

of and interest on the bonds.

(b) The governing body of the municipality may deposit a

reasonable amount to the credit of the bond and interest

redemption fund in excess of the amount required to pay bonds

maturing during the earlier years of maturities of the bonds to

provide a reserve fund to prevent a deficiency in payment of

bonds maturing in later years.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.072. DISPOSITION OF CERTAIN SURPLUS MONEY. The

governing body of the municipality may provide for the

disposition of surplus money in the operation and maintenance

account or a depreciation account by having the money:

(1) transferred to the bond and interest redemption fund;

(2) invested; or

(3) otherwise disposed of.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.073. SEPARATE RECORDS. (a) A municipality that

issues bonds under this subchapter shall establish and maintain

proper records into which full and correct entries shall be made

of all dealings or transactions of or in relation to the

property, business, or affairs of the project.

(b) The records:

(1) must be separate from other records of the municipality; and

(2) shall be open for examination and inspection by any:

(A) taxpayer;

(B) user of a service furnished by the project;

(D) person acting for or on behalf of the taxpayer, user, or

holder.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.074. REQUIRED PAYMENT FOR SERVICES RENDERED TO

MUNICIPALITY. (a) A municipality shall be charged the

reasonable cost or value of a service rendered to the

municipality by a project.

(b) The municipality shall pay the charges, as the service

accrues, from:

(1) current funds of the municipality; or

(2) the proceeds of taxes imposed at a rate sufficient for that

purpose.

accounted for in the same manner as other revenue of the project.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.075. AUTHORITY TO REGULATE OPERATION OF BRIDGES AND

TRAFFIC ON BRIDGES. Except as provided by Section 1505.076, a

municipality may adopt reasonable and necessary ordinances to

regulate:

(1) the operation of a bridge that is constructed, maintained,

or operated under this subchapter; and

(2) traffic on the bridge.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.076. COMMISSIONERS OF NAVIGATION DISTRICT. (a) A

municipality may not construct, maintain, or operate a bridge

over or across an entrance channel to a deepwater port operated

by a navigation district without a permit issued by the

commissioners of the district. Plans and specifications for the

bridge must be jointly approved by the commissioners and the

governing body of the municipality.

(b) If a bridge over or across the entrance channel to the port

is constructed, maintained, or operated under this subchapter,

the commissioners of the navigation district:

(1) may prescribe reasonable rules for the operation of the

bridge in aid of navigation;

(2) shall exercise direct control over the maintenance and

operation of the mechanical facilities of the bridge that provide

clearance of the channel for vessels to enter or leave the port;

(3) may employ and direct all agencies in the management and

operation of those facilities; and

(4) may appropriate and use any available revenue of the

district to defray the cost of maintaining or operating the

bridge.

bridge over or across an entrance channel to a deepwater port

operated by a navigation district except as provided by this

section.

(d) This section does not apply after land or a facility

mortgaged by a municipality is sold on foreclosure.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.077. AUTHORITY FOR COUNTY APPROPRIATIONS. A county in

which is located a municipality to which this chapter applies

may:

(1) appropriate any available revenue of the county to the

municipality for use in:

(A) constructing a bridge;

(B) reclaiming or reconstructing submerged land; or

waterfront; or

(2) appropriate and apply any available revenue to the operation

or maintenance of any such project.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.078. AUTHORITY FOR TEXAS DEPARTMENT OF TRANSPORTATION

EXPENDITURES. The Texas Department of Transportation, with the

approval of the governor, may apply any of the available revenue

of the department to aid in:

(1) the construction, operation, or maintenance of a bridge

acquired or constructed under this subchapter, including any

approach to the bridge; or

(2) the acquisition of any property in connection with or in

furtherance of those activities.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.079. CERTAIN COUNTY AND MUNICIPAL EXPENDITURES NOT

PROHIBITED. This subchapter does not prohibit a county or

municipality from appropriating or using any available income and

revenue of the county or municipality derived from any source,

other than from the operation of the project by a municipality,

to:

(1) pay an immediate expense of maintaining or operating a

project; or

(2) aid in financing any part of constructing a bridge or

reclaiming any submerged land.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.080. UNEXPENDED BALANCE. (a) Any proceeds of the

sale of bonds issued under this subchapter that are unspent after

completion of the project for which the bonds were issued:

(1) shall be deposited to the credit of the bond and interest

redemption fund for the bonds; and

(2) may be used only to:

(A) pay the principal of the bonds; or

(B) purchase outstanding bonds of the issue from which the

proceeds were derived.

(b) A bond may not be purchased under Subsection (a)(2)(B) for a

price that exceeds, excluding accrued interest, the face amount

of the bond.

and may not be reissued.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.081. EXEMPTION FROM TAXATION. (a) A bond or interest

coupon issued under this subchapter is exempt from taxation under

any law of this state.

(b) In addition to the provisions required by Section

1505.059(b), each bond issued under this subchapter must state on

its face the following provision: "The principal of and interest

on this bond are exempt from taxation under any law of the State

of Texas."

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

SUBCHAPTER C. OBLIGATIONS FOR TOLL BRIDGES AND OTHER FACILITIES

IN CERTAIN COASTAL MUNICIPALITIES

Sec. 1505.101. APPLICABILITY OF SUBCHAPTER. This subchapter

applies only to a municipality that:

(1) is located in a navigation district organized under the

general laws of this state; and

(2) has a deepwater port located in the district.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.102. DEFINITIONS. In this subchapter:

(1) "Bridge or tunnel" means a bridge over, or a tube,

underpass, or tunnel under, any stream, inlet, or arm of the Gulf

of Mexico or entrance channel to the deepwater port of a

municipality that connects any public streets or thoroughfares

of, in, or to the municipality.

(2) "Obligation" means a bond, note, or warrant.

(3) "Project" means:

(A) a facility constructed, maintained, operated, extended,

improved, or replaced by a municipality as described by Section

1505.103; and

(B) land acquired or improved by a municipality as described by

Section 1505.103.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.103. AUTHORITY TO ISSUE OBLIGATIONS FOR CERTAIN

FACILITIES. A municipality may issue revenue obligations to:

(1) construct, maintain, or operate a toll bridge or tunnel;

(2) construct, maintain, operate, or extend a sewage disposal

plant, without regard to whether the plant is inside or outside

the municipality;

(3) construct, maintain, extend, or improve a sanitary sewer

line or storm sewer line, without regard to whether the line is

inside or outside the municipality;

(4) if found necessary by the governing body of the

municipality, construct, maintain, extend, or improve a water

main or water line from the source of water supply of the

municipality to any location inside the municipality;

(5) acquire, reclaim, reconstruct, elevate, or fill in any

submerged land or lowland along a waterfront of the municipality

and construct a sidewalk, street, or gas line on the land;

(6) construct, maintain, extend, or improve a seawall,

breakwater, or other shore protection to protect the waterfront

of the municipality;

(7) construct, reconstruct, maintain, operate, or dredge a

channel or boat basin in connection with any deepwater port of

the municipality; or

(8) construct, maintain, replace, or operate:

(A) a boat basin or boat slip; or

(B) a structure in connection with the basin or slip, including

a dry dock, boat service station, wall, pier, or wharf.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.104. AUTHORITY TO BORROW MONEY. (a) In the amount

and under the terms that are agreed to by the municipality and

the lender, a municipality may borrow money for a project from:

(1) the United States;

(2) an agency of the United States authorized to make a loan to

a municipality; or

(3) any person, firm, or corporation.

(b) The loan shall be evidenced by obligations issued under this

subchapter if the project is financed under this subchapter.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.105. SECURITY FOR PAYMENT OF OBLIGATIONS. (a) An

obligation issued under this subchapter, and interest on the

obligation, must be paid by an appropriation or pledge of all

revenue derived from:

(1) one or more projects;

(2) any tolls authorized under Section 1505.113 and collected

from the operation of an existing bridge or tunnel; or

(3) both the project and the tolls.

(b) Payment of the obligation may additionally be secured by a

mortgage on any project, including a toll bridge or tunnel or

reclaimed land.

pledged to the payment of an obligation issued to provide for a

different project.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.106. OBLIGATIONS NOT PAYABLE FROM TAXES. (a) An

obligation issued under this subchapter:

(1) is not a debt of the municipality;

(2) may be a charge only against the revenue, property, or

improvement pledged for the payment of the obligation; and

(3) may not be included in determining the power of the

municipality to issue bonds or lend its credit for any purpose

authorized by law.

(b) Each obligation issued under this subchapter must contain

the following provision: "The holder of this obligation is not

entitled to demand payment of this obligation from any money

raised by taxation."

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.107. ELECTION. (a) A municipality may not issue an

obligation under this subchapter unless the issuance is

authorized by a majority vote of the qualified voters voting at

an election held for that purpose under Chapter 1251.

(b) On approval by the voters, the municipality shall issue the

approved obligations as soon as practicable.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.108. MATURITY. An obligation issued under this

subchapter must mature not later than 30 years after its date.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.109. ACCOUNTS REQUIRED TO BE CREATED BY ORDINANCE. An

ordinance authorizing the issuance of obligations under this

subchapter must provide for:

(1) an operation and maintenance account; and

(2) an interest and sinking fund account.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.110. OPERATING EXPENSES AS FIRST LIEN. (a) The

reasonable costs of administering and operating and the

reasonable expense of maintaining the project are a first lien

against the revenue and income from the operation of the project,

superior to the lien of any indenture or deed of trust on the

project.

(b) From the revenue and income of the project, the municipality

shall, monthly or more frequently if necessary:

(1) first deposit to the credit of the operation and maintenance

account an amount sufficient to pay the costs and expense

described in Subsection (a); and

(2) deposit to the credit of the interest and sinking fund

account an amount sufficient to pay when due the principal of and

interest on the obligation.

provided by this section while an obligation related to the

project remains outstanding.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.111. EXECUTION OF INDENTURE OR DEED OF TRUST. (a)

Before an obligation issued under this subchapter is offered for

sale, the mayor and the municipal treasurer or finance

commissioner, if authorized by an ordinance adopted by the

governing body of the municipality, may execute an indenture or

deed of trust that:

(1) makes effective the mortgage lien on any property pledged to

secure payment of the principal of and interest on the

obligation; and

(2) names a bank or banking institution with trust powers.

(b) The indenture or deed of trust may provide for a grant to a

purchaser, under sale or foreclosure, of a franchise to operate

the encumbered property for a term not to exceed 20 years from

the date of purchase, subject to Subsection (c) and to all laws

regulating the same then in force.

20-year term, repurchase the property designated in the franchise

under reasonable terms and at a reasonable price, as stated in

the encumbrance. This subsection does not apply to any land or

property in a reclaimed area that is acquired from the

municipality by an individual purchaser.

(d) The indenture or deed of trust shall be recorded in the deed

of trust and mortgage records of each county in which any of the

indentured property is located.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.112. AUTHORITY TO REMOVE OR DEMOLISH BRIDGE OR TUNNEL.

The governing body of a municipality may remove or demolish any

structure owned and operated by the municipality, including a

bridge or tunnel, if the removal or demolition is necessary to

complete a project.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.113. CONVERSION OF BRIDGE OR TUNNEL TO TOLL BRIDGE OR

TUNNEL. (a) The governing body of a municipality by ordinance

may convert a bridge or tunnel to a toll bridge or tunnel if:

(1) the bridge or tunnel is owned or operated by the

municipality; and

(2) the governing body finds that it is not necessary or

practicable to construct a toll bridge or tunnel under this

subchapter.

(b) The governing body, if authorized at the election ordered by

the governing body on the issuance of the obligations:

(1) may set and collect tolls for the use of the toll bridge or

tunnel in amounts determined by the governing body to be

reasonable and sufficient, when combined with other revenue and

income from a project, to pay the principal of and interest on

obligations issued under this subchapter as they mature; and

(2) shall deposit money received under Subdivision (1) to the

credit of the interest and sinking fund account and shall use the

money only to pay the principal of and interest on the

obligations.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.114. EMINENT DOMAIN. (a) A municipality may exercise

the power of eminent domain to acquire the fee simple title to,

an easement in, or a right-of-way over or through any property,

including water or land under water, that the governing body of

the municipality determines necessary to accomplish a purpose

provided by Section 1505.103 without regard to whether the

property is inside or outside the municipality.

(b) A municipality may not condemn property under Subsection (a)

if the property is used for cemetery purposes.

of property that is taken, damaged, or destroyed in the

accomplishment of a purpose provided by Section 1505.103.

(d) A municipality shall pay compensation and damages

adjudicated in a condemnation proceeding or damage to the

property of a person or corporation in the accomplishment of a

purpose provided by Section 1505.103 from the proceeds of

obligations issued under this subchapter.

(e) Chapter 21, Property Code, governs the procedure for the

exercise of the power of eminent domain under this section.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.115. COMMISSIONERS OF NAVIGATION DISTRICT. (a) A

municipality may not construct, maintain, or operate a toll

bridge or tunnel over, across, or under an entrance channel to a

deepwater port operated by a navigation district without a permit

issued by the commissioners of the district. Plans and

specifications for the bridge or tunnel must be jointly approved

by the commissioners and the governing body of the municipality.

(b) If a toll bridge or tunnel over, across, or under the

entrance channel to the port is constructed, maintained, or

operated under this subchapter, the commissioners of the

navigation district:

(1) may prescribe reasonable rules for the operation of the

bridge or tunnel in aid of navigation;

(2) shall exercise direct control over the maintenance and

operation of the mechanical facilities of the bridge or tunnel

that provide clearance of the channel for vessels to enter or

leave the port; and

(3) may employ and direct all agencies in the management and

operation of those facilities.

operating the facilities described by Subsection (b)(2).

(d) A municipality may not construct, maintain, or operate a

toll bridge over or across, or a tunnel under, an entrance

channel to a deepwater port operated by a navigation district

except as provided by this section.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

SUBCHAPTER D. OBLIGATIONS FOR FISH MARKETS BY CERTAIN COASTAL

MUNICIPALITIES

Sec. 1505.151. APPLICABILITY OF SUBCHAPTER. This subchapter

applies only to a municipality:

(1) that has a population of more than 1,000;

(2) that is located within five miles of the coast or of any

gulf, bay, or inlet of the coast; and

(3) in which commercial fishing and shrimping is an established

industry.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.152. AUTHORITY TO ACQUIRE OR CONSTRUCT FISH MARKET.

(a) A municipality may:

(1) acquire or construct a municipal fish market to encourage,

develop, and standardize the fishing and shrimping industry; and

(2) acquire any real property necessary for the site of the fish

market.

(b) The fish market must provide sanitary facilities and

equipment for cleaning, packing, shucking, canning, and cold

storage of shrimp, oysters, and other seafood.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.153. AUTHORITY TO ISSUE OBLIGATIONS. A municipality

may issue bonds or revenue notes to acquire or construct a

municipal fish market.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.154. AUTHORITY TO ACCEPT LOANS AND GRANTS FROM UNITED

STATES. (a) A municipality may accept a loan or a grant from

the United States to acquire or construct a municipal fish

market, including the necessary real property on which it is

located, only if the acquisition or construction of the market is

approved:

(1) by the Texas Department of Health on a determination that

the market is conducive to the health of the people of this state

who consume food products from the coastal waters of this state;

and

(2) by the Parks and Wildlife Department on a determination

that:

(A) the market is feasible and of economic importance to the

fishing industry generally in the entire district to be served by

the market, as distinguished from the local or civic benefits to

be derived from the market by the municipality; and

(B) the economic need for the market is not adequately met by a

similar existing facility accessible to the district to be

served.

(b) Any such market is subject to all applicable health and

sanitation rules adopted by the Texas Department of Health.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.155. SECURITY FOR PAYMENT OF OBLIGATIONS. (a) A

municipality may secure the payment of an obligation issued under

this subchapter by:

(1) mortgaging the physical property acquired or constructed or

to be acquired or constructed and pledging the net revenue

derived from the property; or

(2) pledging the net revenue derived from the property without a

mortgage on the property.

(b) A municipality that mortgages the property may provide in

the encumbrance for a grant, to a purchaser under sale or

foreclosure, of a permit to operate the fish market, subject to

all laws then in force regulating the operation of such an

industry.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.156. OBLIGATIONS NOT PAYABLE FROM TAXES. (a) An

obligation issued under this subchapter:

(1) is not a debt of the municipality;

(2) may be a charge only against the revenue or property pledged

for the payment of the obligation; and

(3) may not be included in determining the power of the

municipality to issue bonds for any purpose authorized by law.

(b) Each obligation issued under this subchapter must contain

the following provision: "The holder of this obligation is not

entitled to demand payment of this obligation from any money

raised by taxation."

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.157. MATURITY. An obligation issued under this

subchapter must mature not later than 40 years after its date.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.158. OPERATING EXPENSES AS FIRST LIEN. The expenses

of operating and maintaining a fish market acquired or

constructed under this subchapter, including all salaries, labor,

materials, and repairs necessary to permit the market to provide

efficient service, are a first lien on the revenue from the

operation of the market.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.159. USE OF REVENUE. Except as provided by Section

1505.160, a municipality may only use the gross revenue of a fish

market acquired or constructed under this subchapter:

(1) to pay the expenses of operating and maintaining the market;

(2) after payment of operating and maintenance expenses, to pay

the principal of and interest on any obligation issued to acquire

or construct the market; and

(3) after payment of operating and maintenance expenses and debt

service, to:

(A) redeem any obligation issued to acquire or construct the

market before maturity; or

(B) invest in any security specified in a contract under which

money for the acquisition or construction of the market is

provided to the municipality.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.160. SUBORDINATE OBLIGATIONS. (a) If the governing

body of a municipality considers it necessary to extend or

enlarge the fish market, the governing body may:

(1) issue subordinate bonds or notes; and

(2) pledge the revenue of the fish market to the payment of

those bonds or notes.

(b) A pledge of the revenue for subordinate bonds or notes is

inferior to any prior pledge.

funds to facilitate the payment of the principal of and interest

on the bonds or notes.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.161. LEASE AND SALE OF FACILITIES. Subject to any

prior covenant or agreement relating to an outstanding revenue

bond issued to acquire or construct a fish market under this

subchapter, the governing body of a municipality may:

(1) lease all or part of the facilities of the market and

property associated with the market for a period not longer than

20 years to any person, firm, or corporation; and

(2) sell all or part of the facilities of the market and

property associated with the market to any person, firm, or

corporation.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

SUBCHAPTER E. BONDS FOR HARBOR IMPROVEMENTS AND FACILITIES IN

COASTAL MUNICIPALITIES WITH POPULATION OF LESS THAN 12,000

Sec. 1505.201. APPLICABILITY OF SUBCHAPTER. This subchapter

applies only to a municipality that:

(1) has a population of less than 12,000; and

(2) is located on the Gulf of Mexico or a channel, canal, bay,

or inlet connected with that gulf.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.202. DEFINITIONS. In this subchapter:

(1) "Bond authorization" means an ordinance or resolution

authorizing the issuance of bonds.

(2) "Harbor improvement or facility" means a harbor, port, or

navigational facility described by Section 1505.203.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.203. AUTHORITY TO ISSUE REVENUE BONDS. (a) A

municipality may issue revenue bonds to construct, acquire,

lease, improve, enlarge, extend, repair, maintain, replace,

develop, operate, regulate, or encumber a harbor or port of the

municipality or a navigational facility that pertains or is an

aid to the harbor or port, including:

(1) land or fill;

(2) a boathouse or boat piling;

(3) a seawall, breakwater, or shore protection;

(4) a wharf, dock, or pier;

(5) a walk or way;

(6) a wall or bulkhead;

(7) a canal, channel, slip, pool, waterway, or turning basin;

(8) a dry dock, service facility, floating plant, loading

device, lightering facility, bunkering facility, or towing

facility;

(9) a bridge, tube, underpass, tunnel, or ferry;

(10) equipment;

(11) a pavilion, building, warehouse, or structure;

(12) an aid to navigation; and

(13) any other facility, improvement, or aid incident to or

necessary or desirable in connection with the harbor or port.

(b) This subchapter does not authorize a municipality to issue

bonds that are payable from taxes.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.204. AUTHORITY TO ACCEPT LOANS AND GRANTS. For a

purpose described by Section 1505.203, a municipality may accept

a loan or grant from any source, including:

(1) the United States, a state, or a county; and

(2) an agency of a state or county.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.205. LOCATION OF HARBOR IMPROVEMENT OR FACILITY. A

harbor improvement or facility financed by bonds or a loan or

grant authorized under this subchapter must be located inside

municipal boundaries.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.206. PLEDGE OF REVENUE. (a) In this section, "net

revenue" means the gross revenue derived from a harbor

improvement or facility less the amount necessary to pay the cost

of maintaining and operating the harbor improvement or facility.

(b) A bond issued under this subchapter is payable from revenue

pledged by the governing body of the municipality to the payment

of the bond.

issued under this subchapter, the governing body of the

municipality may pledge:

(1) the gross or net revenue of:

(A) a harbor improvement or facility to be financed by the

bonds; or

(B) a harbor improvement or facility in existence before the

issuance of the bonds, if that revenue may be pledged;

(2) unless the bond authorization specifies a different amount,

the entire amount of revenue due the municipality under a

contract in existence before the issuance of the bonds or to be

entered into after the issuance, if that revenue may be pledged;

(3) any other revenue specified by the bond authorization that

may be pledged.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.207. GRANT OF FRANCHISE. As additional security for

the encumbrance, a municipality that encumbers a harbor

improvement or facility under Section 1505.203 may provide in the

encumbrance for a grant, to a purchaser under sale or

foreclosure, of a franchise to operate the harbor improvement or

facility, including any improvement, for a term not to exceed 30

years from the date of purchase, subject to all laws regulating

the same then in force.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.208. BONDS NOT PAYABLE FROM TAXES. (a) A bond issued

under this subchapter:

(1) is not a debt of the municipality; and

(2) may be a charge only against the property, facilities, and

contracts authorized by the bond authorization.

(b) Each bond issued under this subchapter must state on its

face the following provision: "The holder of this obligation is

not entitled to demand payment of this obligation from any money

raised by taxation."

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.209. ELECTION. (a) A municipality may not issue

bonds under this subchapter unless the issuance is authorized by

a majority of the qualified voters voting at an election held for

that purpose under Chapter 1251.

(b) The governing body of the municipality shall hold the

election in the manner provided for the issuance of other bonds

of the municipality.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.026, eff.

Sept. 1, 2001.

Sec. 1505.210. ADDITIONAL BONDS. The bond authorization may

reserve the right to issue additional bonds on a parity with, or

subordinate to, the bond being issued, subject to the conditions

prescribed by the bond authorization.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.211. TRANSFER OF PLEDGED REVENUE. (a) A municipality

may, in the bond authorization, transfer pledged revenue from the

harbor improvement or facility to the general fund of the

municipality.

(b) The transferred revenue:

(1) must be in the amount authorized in the bond authorization;

and

(2) to the extent authorized in the bond authorization, may be

used for general or special purposes.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.212. RATES. The governing body of the municipality

shall set the rates for municipal charges, rents, and leases and

for services rendered by the municipality in connection with a

harbor improvement or facility, the revenue of which is pledged,

in an amount sufficient to:

(1) pay the expense of operating and maintaining the improvement

or facility;

(2) pay the interest on the bond as it accrues;

(3) pay the principal of the bond as it matures; and

(4) maintain the reserve and other funds as provided in the bond

authorization, unless otherwise specifically provided for in the

bond authorization.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.213. APPOINTMENT OF RECEIVER. (a) On default or

threatened default in the payment of principal of or interest on

an issue of bonds under this subchapter, a court may, on petition

of the holders of 25 percent of the outstanding bonds, appoint a

receiver with authority to:

(1) collect and receive the income from a harbor improvement or

facility or a contract the revenue of which is pledged;

(2) employ an agent or employee;

(3) take charge of money on hand; and

(4) manage without consent or hindrance by the governing body of

the municipality the proprietary affairs of the harbor

improvement or facility or the contract the revenue of which is

pledged.

(b) The court may also:

(1) authorize the receiver to lease the harbor improvement or

facility the revenue of which is pledged and renew the contract

with the approval of the court; and

(2) vest the receiver with any other power or duty the court

finds necessary for the protection of the bondholders.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.214. EXEMPTION FROM ASSESSMENT OR TAXATION. (a) A

municipality is not required to pay any assessment on a harbor

improvement or facility.

(b) A bond issued under this subchapter, the transfer of the

bond, and the income from the bond, including any profit made

from the sale of the bond, are exempt from taxation by this state

or a political subdivision of this state.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.215. AUTHORITY TO ISSUE REFUNDING BONDS. A

municipality by resolution may issue refunding bonds to refund

outstanding bonds, and the interest on those bonds, issued by the

municipality under this subchapter.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.216. TERMS OF ISSUANCE OF REFUNDING BONDS. (a)

Refunding bonds may:

(1) be issued under this subchapter to refund bonds of:

(A) a single issue or two or more consecutive issues; or

(B) a single series or two or more consecutive series;

(2) combine the pledges related to bonds to be refunded to

secure the refunding bonds; or

(3) be secured by a pledge of other or additional revenue.

(b) Refunding bonds issued under this subchapter have the same

priority of lien on the revenue pledged to their payment as is

pledged to the bonds to be refunded.

refunded in a single issue of refunding bonds, the lien on all

the refunding bonds is equal if all bonds of the several series

or issues of bonds to be refunded are surrendered in exchange for

the refunding bonds.

(d) Refunding bonds issued under this subchapter may not have a

priority of lien greater than the highest priority of lien of a

series or issue of bonds to be refunded.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.217. REGISTRATION OF REFUNDING BONDS BY COMPTROLLER.

(a) The comptroller shall register the refunding bonds on the

surrender and cancellation of the bonds to be refunded.

(b) In lieu of issuing bonds to be registered on the surrender

and cancellation of the bonds to be refunded, the municipality,

in the resolution authorizing the issuance of the refunding

bonds, may provide for the sale of the refunding bonds and the

deposit of the proceeds in the bank where the bonds to be

refunded are payable. In that case, the refunding bonds may be

issued in an amount sufficient to pay the interest on the bonds

to be refunded to their option or maturity date, and the

comptroller shall register the refunding bonds without the

surrender and cancellation of the bonds to be refunded.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

SUBCHAPTER F. BONDS FOR HARBOR, WHARF, AND DOCK FACILITIES IN

COASTAL MUNICIPALITIES WITH POPULATION OF 5,000 OR LESS

Sec. 1505.251. APPLICABILITY OF SUBCHAPTER. This subchapter

applies only to a general-law municipality that:

(1) has a population of 5,000 or less; and

(2) is located on the Gulf of Mexico or a channel, canal, bay,

or inlet connected with that gulf.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.252. AUTHORITY FOR HARBOR, WHARF, AND DOCK FACILITIES.

A municipality may purchase, condemn, construct, own, maintain,

improve, repair, operate, or lease:

(1) a wharf, pier, pavilion, dock, harbor, or boat basin; and

(2) another facility associated with a facility listed in

Subdivision (1) that the municipality considers advisable,

including a ferry, marina, elevated platform, parking facility,

restaurant, hotel, motel, club, or other commercial establishment

or municipal building.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.253. AUTHORITY TO ISSUE BONDS. A municipality may:

(1) issue bonds for a purpose described by Section 1505.252 and

provide for the payment of the principal of and interest on the

bonds from the income of the facility, including income from

leasing the facility, less the reasonable cost of the operation

and maintenance of the facility; or

(2) issue bonds for that purpose in the manner provided for the

issuance of other municipal bonds payable from an ad valorem tax

imposed on taxable property in the municipality.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1505.254. ELECTION. (a) The governing body of a

municipality may not issue bonds under this subchapter that are

payable from ad valorem taxes unless authorized by a majority of

the qualified voters voting at an election.

(b) The governing body of a municipality may issue bonds under

this subchapter that are payable from the income of a facility

without notice or an election in connection with the issuance of

the bonds.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

State Codes and Statutes

State Codes and Statutes

State Codes and Statutes

State Codes and Statutes

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