reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter A. Revenue Bonds for Airports › Section 1503.003. Pledge of Tax for Operation and Maintenance Expenses; Proceeds

Sec. 1503.003.  PLEDGE OF TAX FOR OPERATION AND MAINTENANCE EXPENSES;  PROCEEDS.  (a)  In addition to or instead of the pledge of revenue and income of the airport authorized by Subchapter C,  a municipality may impose and pledge to the payment of the operation and maintenance expenses of the airport a continuing annual ad valorem tax at a rate sufficient for that purpose, as provided in the ordinance authorizing the issuance of bonds under this subchapter.
(b)  A tax under this section:
(1)  must be imposed at a rate within any limit contained in the municipal charter;  and
(2)  may not be used for the payment of the principal of or interest on the bonds.
(c)  The proceeds of a tax pledged under this section shall be used annually, to the extent required by or provided in the ordinance authorizing the bonds, for the operation and maintenance of the airport.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter A. Revenue Bonds for Airports › Section 1503.004. Contents of Ordinance Authorizing Bonds

Sec. 1503.004.  CONTENTS OF ORDINANCE AUTHORIZING BONDS.  (a)  The ordinance authorizing the issuance of bonds under this subchapter may:
(1)  provide for the flow of funds and the establishment and maintenance of an interest and sinking fund, reserve fund, or other fund;
(2)  make additional covenants relating to the bonds and pledged revenue and the operation and maintenance of the improvement or facility the revenue of which is pledged, including providing for the operation or lease of all or part of the improvement or facility and the use or pledge of money derived from operation contracts and leases;  or
(3)  provide that the municipality will pay all or certain costs of operating and maintaining the airport from the proceeds of a tax imposed under Section 1503.003.
(b)  The ordinance may:
(1)  prohibit the further issuance of additional bonds or other obligations payable from the pledged revenue;  or
(2)  reserve the right to issue additional bonds secured by a pledge of and payable from the revenue on a parity with, or subordinate to, the lien and pledge in support of the bonds being issued, subject to any condition provided by the ordinance.
(c)  The ordinance may contain other provisions and covenants.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter A. Revenue Bonds for Airports › Section 1503.005. Adoption and Execution of Documents

Sec. 1503.005.  ADOPTION AND EXECUTION OF DOCUMENTS.  A municipality may adopt or have executed any other proceeding or instrument necessary or convenient for the issuance of bonds under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter A. Revenue Bonds for Airports › Section 1503.006. Maturity

Sec. 1503.006.  MATURITY.  A bond 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.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter A. Revenue Bonds for Airports › Section 1503.007. Signatures

Sec. 1503.007.  SIGNATURES.  A bond issued under this subchapter must be signed by the mayor of the municipality and countersigned by the secretary or clerk of the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter A. Revenue Bonds for Airports › Section 1503.008. Sale of Bonds

Sec. 1503.008.  SALE OF BONDS.  A municipality may sell bonds issued under this subchapter under the terms determined by the governing body of the municipality to be the most advantageous and reasonably obtainable.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter A. Revenue Bonds for Airports › Section 1503.009. Investment of Bond Proceeds and Funds

Sec. 1503.009.  INVESTMENT OF BOND PROCEEDS AND FUNDS.  (a)  The bond proceeds, until they are needed for the purpose for which the bonds were issued, may be invested in direct obligations of the United States, placed on time deposit, or both.
(b)  Money in an interest and sinking fund, reserve fund, or any other fund established or provided for in the ordinance authorizing the bonds may be invested in the manner and in the securities as provided in that ordinance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter A. Revenue Bonds for Airports › Section 1503.010. Refunding Bonds

Sec. 1503.010.  REFUNDING BONDS.  (a)  A municipality by ordinance may issue revenue refunding bonds to refund original bonds or refunding bonds issued under this subchapter or Subchapter C.
(b)  The comptroller shall register the refunding bonds on the surrender and cancellation of the bonds to be refunded.
(c)  In lieu of issuing bonds to be registered on the surrender and cancellation of the bonds to be refunded, the municipality, in the ordinance authorizing the issuance of the refunding bonds, may provide for the sale of the refunding bonds and the deposit of the proceeds at a place at which 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 maturity date or option 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.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter A. Revenue Bonds for Airports › Section 1503.011. Applicability of Other Law

Sec. 1503.011.  APPLICABILITY OF OTHER LAW.  Except to the extent of a conflict or inconsistency with this subchapter, Subchapter C  applies to bonds issued under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000 › Section 1503.051. Applicability of Subchapter

Sec. 1503.051.  APPLICABILITY OF SUBCHAPTER.  This subchapter applies only to a municipality with a population of more than 40,000.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000 › Section 1503.052. Definition

Sec. 1503.052.  DEFINITION.  In this subchapter, "airport" includes all land and any building or other improvement necessary or convenient to establish or operate an airport, including land or an improvement necessary to:
(1)  assemble or manufacture aircraft for military use or another governmental purpose;  or
(2)  provide housing or office space for employees necessary or incidental to such purposes.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000 › Section 1503.053. Authority to Issue Bonds and Warrants

Sec. 1503.053.  AUTHORITY TO ISSUE BONDS AND WARRANTS.  (a)  A municipality may borrow money and may issue bonds and warrants to finance all or part of the cost of acquiring, constructing, improving, enlarging, extending, or repairing an airport.
(b)  Warrants may be authorized under this subchapter by ordinance.  A majority of all of the members of the governing body of the municipality, at the meeting at which the ordinance is introduced, may adopt the ordinance.  The ordinance takes effect immediately.
(c)  A municipality that issues warrants under this subchapter must comply with the provisions of Chapter 252, Local Government Code, relating to bidders, notice of intention to issue the warrants, and the right to a referendum.  Except as provided by that chapter, an election is not necessary to authorize the issuance of warrants under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000 › Section 1503.054. Pledge of Revenue

Sec. 1503.054.  PLEDGE OF REVENUE.  In addition to taxes, a municipality may pledge to the timely payment of the principal of and interest on warrants issued under this subchapter all or part of the receipts derived from the operation of the airport, including income, rent, revenue, and tolls.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000 › Section 1503.055. Maturity

Sec. 1503.055.  MATURITY.  Warrants issued under this subchapter must mature annually in such amounts so that the aggregate amount of principal and interest due in each year is substantially equal over a period not to exceed 30 years after their date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000 › Section 1503.056. Limit on Amount of Warrants

Sec. 1503.056.  LIMIT ON AMOUNT OF WARRANTS.  A municipality may not issue warrants under this Subchapter in an aggregate amount in excess of $125,000.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000 › Section 1503.057. Sale of Warrants

Sec. 1503.057.  SALE OF WARRANTS.  A municipality may sell warrants issued under this subchapter at a public or private sale.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000 › Section 1503.058. Action to Collect Warrants; Evidence

Sec. 1503.058.  ACTION TO COLLECT WARRANTS;  EVIDENCE.  In any action brought to enforce the collection of warrants issued under this subchapter that have been approved by the attorney general and registered by the comptroller, the certificate of the attorney general or a certified copy of the certificate shall be admitted as evidence of the validity of the warrants and the coupons attached to the warrants.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000 › Section 1503.059. Authority to Impose Tax

Sec. 1503.059.  AUTHORITY TO IMPOSE TAX.  (a)  A municipality that issues warrants under this subchapter shall annually impose a tax in an amount sufficient to pay when due the principal of and interest on the warrants.  The tax shall be imposed and paid in the same manner as other taxes of the municipality.
(b)  If the warrants are additionally secured by a pledge of the receipts derived from the operation of the airport for which the warrants are issued, the municipality may reduce the tax imposed under this section by the amount of money available that is pledged to the payment of the principal of and interest on the warrants.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000 › Section 1503.060. Charges for Service or Facility

Sec. 1503.060.  CHARGES FOR SERVICE OR FACILITY.  (a)  The governing body of a municipality that issues warrants under this subchapter shall prescribe by ordinance and collect a reasonable rate, rent, or other charge for the service or facility furnished by the airport for which the warrants are issued.
(b)  The charges under Subsection (a) must be in an amount that will produce revenue sufficient to:
(1)  pay when due the principal of and interest on all warrants for which the revenue has been pledged, including reserves;  and
(2)  provide for all expenses of operation and maintenance of the airport for which the warrants were issued, including reserves.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter B. Bonds and Warrants for Airports in Municipalities With Population of More Than 40,000 › Section 1503.061. Inconsistency With Other Law or Municipal Charter

Sec. 1503.061.  INCONSISTENCY WITH OTHER LAW OR MUNICIPAL CHARTER.  To the extent of an inconsistency between this subchapter and another law or a municipal charter, this subchapter controls.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter C. Revenue Bonds for Airports in Municipalities With Population of More Than 70,000 › Section 1503.101. Applicability of Subchapter

Sec. 1503.101.  APPLICABILITY OF SUBCHAPTER.  This subchapter applies only to a municipality with a population of more than 70,000.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter C. Revenue Bonds for Airports in Municipalities With Population of More Than 70,000 › Section 1503.102. Authority to Issue Revenue Bonds

Sec. 1503.102.  AUTHORITY TO ISSUE REVENUE BONDS.  (a)  In this section, "improvement" includes the construction or enlargement of a hangar or a related building for use by a tenant or concessionaire of an airport, including a person, firm, or corporation who furnishes repairs or other services to air carriers.
(b)  The governing body of a municipality by ordinance may issue revenue bonds for improving, enlarging, extending, or repairing its airport.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter C. Revenue Bonds for Airports in Municipalities With Population of More Than 70,000 › Section 1503.103. Pledge of Revenue

Sec. 1503.103.  PLEDGE OF REVENUE.  (a)  Bonds issued under this subchapter must be secured by a pledge of all or a designated part of the revenue from the operation of the airport for which the bonds are issued, including rents for any hangar or building, as prescribed in the ordinance authorizing the bonds.
(b)  To the extent that the revenue from the airport is pledged for the payment of outstanding revenue bonds, the pledge securing the bonds is inferior to the previous pledge.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter C. Revenue Bonds for Airports in Municipalities With Population of More Than 70,000 › Section 1503.104. Lien on Airport

Sec. 1503.104.  LIEN ON AIRPORT.  Subject to a limitation contained in a previous pledge, if any, and in addition to the pledge of revenue under Section 1503.103, the governing body of the municipality may give a lien on all or part of the physical property of the airport.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter C. Revenue Bonds for Airports in Municipalities With Population of More Than 70,000 › Section 1503.105. Bonds Not Payable From Taxes

Sec. 1503.105.  BONDS NOT PAYABLE FROM TAXES.  A municipality may not use proceeds of a tax to pay the principal of or interest on:
(1)  bonds issued under this subchapter;  or
(2)  bonds issued to refund bonds issued under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter C. Revenue Bonds for Airports in Municipalities With Population of More Than 70,000 › Section 1503.106. Maturity

Sec. 1503.106.  MATURITY.  A bond 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.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter C. Revenue Bonds for Airports in Municipalities With Population of More Than 70,000 › Section 1503.107. Charges for Services; Reserves

Sec. 1503.107.  CHARGES FOR SERVICES;  RESERVES.  If the governing body of a municipality pledges the revenue of a property or facility of an airport to the payment of bonds issued under this subchapter, the governing body shall impose and collect a charge for services rendered in connection with the use of the property or facility in an amount at least sufficient to:
(1)  provide for the maintenance and operation expenses of the property or facility;
(2)  pay the principal of and interest on the bonds as required by the ordinance authorizing the bonds;  and
(3)  provide any reserve fund required by the ordinance authorizing the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter C. Revenue Bonds for Airports in Municipalities With Population of More Than 70,000 › Section 1503.108. Refunding Bonds

Sec. 1503.108.  REFUNDING BONDS.  A municipality may issue refunding bonds to be exchanged for or to provide money to redeem bonds issued under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter C. Revenue Bonds for Airports in Municipalities With Population of More Than 70,000 › Section 1503.109. Pledge and Use of Proceeds of Tax by Municipalities With Population of 125,000 or More

Sec. 1503.109.  PLEDGE AND USE OF PROCEEDS OF TAX BY MUNICIPALITIES WITH POPULATION OF 125,000 OR MORE.  (a)  This section applies only to a home-rule municipality that:
(1)  has a population of 125,000 or more;  and
(2)  operates for airport purposes real property that is owned, leased, or controlled by the municipality.
(b)  A municipality that issues bonds under this subchapter or that issues bonds to refund bonds issued under this subchapter may impose and pledge to the payment of the operation and maintenance expenses of the airport all or part of the proceeds of an ad valorem tax authorized by Section 22.051, Transportation Code, to supplement the pledge of revenue for payment of the operation and maintenance expenses and principal of and interest on the bonds.
(c)  A municipality shall use annually the proceeds of a tax pledged under Subsection (b) to the extent required by the ordinance authorizing the issuance of the bonds to assure the efficient operation and maintenance of the airport.
(d)  In the proceedings authorizing the issuance of bonds, a municipality may covenant that the municipality will pay certain costs of operating and maintaining the airport for which the bonds were issued, as specified in the proceedings, from the proceeds of the tax prescribed by Subsection (b).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter C. Revenue Bonds for Airports in Municipalities With Population of More Than 70,000 › Section 1503.110. Pledge and Use of Proceeds of Tax by Municipalities With Population of 200,000 or More

Sec. 1503.110.  PLEDGE AND USE OF PROCEEDS OF TAX BY MUNICIPALITIES WITH POPULATION OF 200,000 OR MORE.  (a)  This section applies only to a home-rule municipality that:
(1)  has a population of 200,000 or more;  and
(2)  owns real property acquired for airport purposes that is leased, wholly or partly, to an airport operating company or corporation.
(b)  A municipality that issues bonds under this subchapter to acquire improvements constructed by an airport operating company or corporation or to further improve its airport, or that issues bonds to refund bonds issued under this subchapter for those purposes, may impose and pledge to the payment of the operation and maintenance expenses of the airport all or part of the proceeds of an ad valorem tax authorized by Section 22.051, Transportation Code, in the manner provided by Section 1503.109.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter D. Encumbrance of Airports in Municipalities With Population of More Than 160,000 › Section 1503.151. Applicability of Subchapter

Sec. 1503.151.  APPLICABILITY OF SUBCHAPTER.  This subchapter applies only to a municipality with a population of more than 160,000.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter D. Encumbrance of Airports in Municipalities With Population of More Than 160,000 › Section 1503.152. Pledge of Income

Sec. 1503.152.  PLEDGE OF INCOME.  A municipality may pledge the income from its airport and anything the municipality acquires relating to the airport to secure the payment of money to:
(1)  purchase the airport;  or
(2)  construct, improve, enlarge, extend, or repair a permanent improvement, including a building, repair shop, or other structure.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter D. Encumbrance of Airports in Municipalities With Population of More Than 160,000 › Section 1503.153. Encumbrance of Airport

Sec. 1503.153.  ENCUMBRANCE OF AIRPORT.  A municipality may encumber its airport and anything the municipality acquires relating to the airport to secure the payment of money to:
(1)  purchase the airport;  or
(2)  construct, improve, enlarge, extend, or repair a permanent improvement, including a building, repair shop, or other structure.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter D. Encumbrance of Airports in Municipalities With Population of More Than 160,000 › Section 1503.154. Grant of Franchise

Sec. 1503.154.  GRANT OF FRANCHISE.  As additional security for the encumbrance, a municipality that encumbers an airport under Section 1503.153 may provide in the encumbrance for a grant, to the purchaser under sale or foreclosure, of a franchise to operate the airport and the improvements situated on the airport for a term not to exceed 30 years from the date of the purchase, subject to all laws regulating same then in force.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.023, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter D. Encumbrance of Airports in Municipalities With Population of More Than 160,000 › Section 1503.155. Obligation Not Debt

Sec. 1503.155.  OBLIGATION NOT DEBT.  An obligation described by Section 1503.152 or 1503.153:
(1)  may be a charge only on the property encumbered;
(2)  is not a debt of the municipality;  and
(3)  may not be included in determining the power of the municipality to issue bonds for any purpose authorized by law.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter D. Encumbrance of Airports in Municipalities With Population of More Than 160,000 › Section 1503.156. Authority to Issue Notes and Warrants Without Election

Sec. 1503.156.  AUTHORITY TO ISSUE NOTES AND WARRANTS WITHOUT ELECTION.  (a)  A municipality may issue notes or warrants in an amount not to exceed $100,000 for the purposes described by this subchapter without an election.
(b)  To the extent of a conflict between this section and a municipal charter, this section controls.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter E. Additional Powers of Municipalities With Population of 1.9 Million or More › Section 1503.201. Applicability of Subchapter

Sec. 1503.201.  APPLICABILITY OF SUBCHAPTER.  This subchapter applies only to a municipality with a population of 1.9 million or more.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 669, Sec. 27, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter E. Additional Powers of Municipalities With Population of 1.9 Million or More › Section 1503.202. Competitive Bids and Payment or Performance Bonds Not Required

Sec. 1503.202.  COMPETITIVE BIDS AND PAYMENT OR PERFORMANCE BONDS NOT REQUIRED.  (a)  A municipality that issues revenue bonds to finance the construction or acquisition of a building, improvement, or facility at an airport owned and operated by the municipality may spend all or part of the bond proceeds without inviting, advertising for, or otherwise requiring competitive bids for constructing or acquiring the building, improvement, or facility or requiring or obtaining payment bonds or performance bonds in connection with the construction or acquisition of the building, improvement, or facility if:
(1)  the building, improvement, or facility is leased by the municipality to a private entity under a lease agreement under which the lessee is:
(A)  obligated to maintain the building, improvement, or facility solely at the lessee's expense;  and
(B)  unconditionally obligated, for the term of the bonds, to make payments of net rent that are pledged to the payment of the bonds in an amount and at a time that is sufficient to provide for the timely payment of principal, interest, redemption premiums, and other expenses arising in connection with the payment of the bonds;  and
(2)  the bonds:
(A)  provide by their terms that the bonds:
(i)  are payable solely from net rent as prescribed by Subsection (a)(1)(B);  and
(ii)  may not be repaid under any circumstances from proceeds of a tax;  and
(B)  do not create or provide for the creation of a lien on real property owned by the municipality.
(b)  This subchapter does not affect the obligation of a municipality to obtain competitive bids or require a payment bond or performance bond in connection with a contract for the construction of a building, improvement, or facility if the contract is awarded by the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1503 - Obligations for Municipal Airports › Subchapter E. Additional Powers of Municipalities With Population of 1.9 Million or More › Section 1503.203. Payment of Prevailing Wage Rates

Sec. 1503.203.  PAYMENT OF PREVAILING WAGE RATES.  An expenditure of or agreement to spend bond proceeds covered by this subchapter for the construction of a building, improvement, or facility must be conditioned on the payment of not less than the rate of per diem wages for work of a similar character in the municipality as determined by the governing body of the municipality under Chapter 2258.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.001. Authority for Certain Facilities

Sec. 1504.001.  AUTHORITY FOR CERTAIN FACILITIES.  (a)  A municipality may establish, acquire, lease as lessee or lessor, construct, improve, enlarge, equip, repair, operate, or maintain a facility such as:
(1)  a civic center, auditorium, opera house, music hall, exhibition hall, coliseum, museum, library, or other municipal building;
(2)  a golf course, tennis court, or other similar recreational facility;
(3)  a hotel owned by a municipality or a nonprofit municipally sponsored local government corporation created under Chapter 431, Transportation Code, that is located not more than 1,000 feet from a convention center owned by a municipality with a population of 1,500,000 or more;
(4)  a historic hotel owned by a municipality or a nonprofit municipally sponsored local government corporation created under Chapter 431, Transportation Code, that is located not more than one mile from a convention center owned by a municipality with a population of 1,500,000 or more;  or
(5)  a parking facility at or in the immediate vicinity of a facility described by Subdivisions (1)-(4) for use in connection with that facility for off-street parking or storage of motor vehicles or other conveyances.
(b)  An eligible central municipality, as defined by Section 351.001, Tax Code, or a municipality with a population of 173,000 or more that is located within two counties may establish, acquire, lease as lessee or lessor, construct, improve, enlarge, equip, repair, operate, or maintain a hotel, and any facilities ancillary to the hotel, including convention center entertainment-related facilities, restaurants, shops, and parking facilities, that are owned by or located on land owned by the municipality or by a nonprofit corporation acting on behalf of the municipality, and that are located within 1,000 feet of a hotel or a convention center facility owned by 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. 8.024(a), eff. Sept. 1, 2001.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 519 (S.B. 1207), Sec. 2, eff. September 1, 2009.
Acts 2009, 81st Leg., R.S., Ch. 1087 (H.B. 4781), Sec. 1, eff. June 19, 2009.
Acts 2009, 81st Leg., R.S., Ch. 1220 (S.B. 1247), Sec. 5, eff. September 1, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.002. Authority to Issue Revenue Bonds

Sec. 1504.002.  AUTHORITY TO ISSUE REVENUE BONDS.  (a)  The governing body of a municipality by ordinance may issue revenue bonds to provide all or part of the money to establish, acquire, construct, improve, enlarge, equip, or repair a facility described by Section 1504.001(a).
(b)  An eligible central municipality, as defined by Section 351.001, Tax Code, or a municipality with a population of 173,000 or more that is located within two counties by ordinance may issue bonds or incur other obligations to acquire, lease, construct, or equip a facility described by Section 1504.001(b).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.024(a), eff. Sept. 1, 2001.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 519 (S.B. 1207), Sec. 3, eff. September 1, 2009.
Acts 2009, 81st Leg., R.S., Ch. 1087 (H.B. 4781), Sec. 2, eff. June 19, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.003. Pledge of Revenue

Sec. 1504.003.  PLEDGE OF REVENUE.  (a)  Bonds issued under this subchapter must be secured by a pledge of and be payable from all or a designated part of the revenue from the facility for which the bonds are issued or from additional sources made available by the municipality for that purpose, as provided in the ordinance authorizing or approving the issuance of the bonds.
(b)  The pledge securing the bonds is inferior to any previous pledge of the revenue for the payment of revenue bonds or revenue refunding bonds that are outstanding.
(c)  A municipality that leases as lessee a facility described by Section 1504.001 may pledge all or part of the revenue from the facility to the lease payments the municipality must make.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 264 (H.B. 2032), Sec. 4, eff. May 30, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.004. Lien on Facility

Sec. 1504.004.  LIEN ON FACILITY.  Subject to any limitation contained in any previous pledge, the governing body of the municipality may, in addition to pledging the revenue from a facility, give a lien on all or part of the physical property of the facility acquired with the proceeds of bonds issued under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.005. Bonds Not Payable From Taxes; Exception

Sec. 1504.005.  BONDS NOT PAYABLE FROM TAXES;  EXCEPTION.  (a)  The owner or holder of a bond issued under this subchapter is not entitled to demand payment of the principal of or interest on the bond from money raised by taxation.
(b)  Subsection (a) does not apply to a demand for payment from hotel occupancy taxes that are pledged under Chapter 351, Tax Code, to the payment of the bond.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.006. Contents of Ordinance Authorizing Bonds

Sec. 1504.006.  CONTENTS OF ORDINANCE AUTHORIZING BONDS.  (a)  The ordinance authorizing the issuance of bonds under this subchapter may provide for the flow of funds and the establishment and maintenance of an interest and sinking fund, reserve fund, or other fund.
(b)  The ordinance may:
(1)  prohibit the issuance of additional bonds or other obligations payable from the pledged revenue;  or
(2)  reserve the right to issue additional bonds to be secured by a pledge of and payable from the revenue on a parity with, or subordinate to, the lien and pledge in support of the bonds being issued, subject to the conditions prescribed by the ordinance.
(c)  The ordinance may contain any other provision or covenant, including a covenant with respect to the bonds, the pledged revenue, or the operation or maintenance of the facility the revenue of which is pledged.  The ordinance may provide for the operation or lease of all or part of the facility and the use or pledge of money derived from operation contracts and leases.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.007. Adoption and Execution of Documents

Sec. 1504.007.  ADOPTION AND EXECUTION OF DOCUMENTS.  The municipality may adopt and have executed any other proceeding or instrument necessary or convenient to the issuance of bonds under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.008. Maturity

Sec. 1504.008.  MATURITY.  A bond 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.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.009. Signatures

Sec. 1504.009.  SIGNATURES.  A bond issued under this subchapter must be signed by the mayor of the municipality and countersigned by the secretary or clerk of the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.010. Sale of Bonds

Sec. 1504.010.  SALE OF BONDS.  A municipality may sell bonds issued under this subchapter under the terms the governing body of the municipality determines to be the most advantageous and reasonably obtainable.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.011. Investment of Bond Proceeds and Funds

Sec. 1504.011.  INVESTMENT OF BOND PROCEEDS AND FUNDS.  (a)  The bond proceeds, until they are needed to implement the purpose for which the bonds were issued, may be invested in direct obligations of the United States, placed on time deposit, or both.
(b)  Money in an interest and sinking fund, reserve fund, or any other fund established or provided for in the bond ordinance may be invested in the manner and in the securities as provided in the bond ordinance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.012. Term of Certain Leases

Sec. 1504.012.  TERM OF CERTAIN LEASES.  In a municipality with a population of one million or more, a lease entered into under Section 1504.001 may have a term not to exceed 60 years if:
(1)  the lessee proposes to invest more than $20 million:
(A)  to renovate or redevelop an existing civic center building and facilities that are used in connection with and are located at or in the immediate vicinity of that building;  or
(B)  to develop a new building or facilities on land administered, operated, or used as a civic center property;  and
(2)  the governing body of the municipality finds that:
(A)  the renovated or redeveloped building and facilities or the new building or facilities will generate additional revenue for the municipality;  and
(B)  a term that exceeds 30 years is necessary to enable the lessee to recoup its investment or to obtain financing for the project.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2003, 78th Leg., ch. 1253, Sec. 1, eff. June 20, 2003.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.013. Charges for Services

Sec. 1504.013.  CHARGES FOR SERVICES.  The governing body of the municipality shall impose and collect charges for the use of a facility the revenue of which is pledged to secure bonds issued under this subchapter, and for services provided in connection with that use, in amounts at least sufficient to comply with each covenant or provision in the ordinance authorizing the issuance of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.014. Refunding Bonds

Sec. 1504.014.  REFUNDING BONDS.  (a)  A municipality by ordinance may issue revenue refunding bonds similarly secured to refund either original bonds or revenue refunding bonds previously issued by the municipality under this subchapter.
(b)  The refunding bonds shall be executed as provided by this subchapter for original bonds.
(c)  The comptroller shall register the refunding bonds on the surrender and cancellation of the bonds to be refunded.
(d)  In lieu of issuing bonds to be registered on the surrender and cancellation of the bonds to be refunded, the municipality, in the ordinance authorizing the issuance of the refunding bonds, may provide for the sale of the refunding bonds and the deposit of the proceeds in the place the bonds to be refunded are payable.  In that case, the refunding bonds may be issued in an amount sufficient to pay the principal of and 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.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter A. Revenue Bonds for Certain Facilities › Section 1504.015. Conflict or Inconsistency With Municipal Charter

Sec. 1504.015.  CONFLICT OR INCONSISTENCY WITH MUNICIPAL CHARTER.  To the extent of a conflict or inconsistency between this subchapter and a municipal charter, this subchapter controls.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1504 - Obligations for Municipal Buildings › Subchapter C. Obligations for Auditoriums and Exhibition Facilities in Municipalities With Population of More Than 125,000 › Section 1504.101. Applicability of Subchapter

Sec. 1504.101.  APPLICABILITY OF SUBCHAPTER.  This subchapter applies only to a municipality with a population of more than 125,000.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.