reglab/statecodes huggingface dataset:
2023 Texas Statutes › 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 D. Obligations for Fish Markets by Certain Coastal Municipalities › Section 1505.157. Maturity

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.
2023 Texas Statutes › 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 D. Obligations for Fish Markets by Certain Coastal Municipalities › Section 1505.158. Operating Expenses as First Lien

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.
2023 Texas Statutes › 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 D. Obligations for Fish Markets by Certain Coastal Municipalities › Section 1505.159. Use of Revenue

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.
2023 Texas Statutes › 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 D. Obligations for Fish Markets by Certain Coastal Municipalities › Section 1505.160. Subordinate Obligations

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.
(c)  The municipality shall establish, deposit, and secure the 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.
2023 Texas Statutes › 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 D. Obligations for Fish Markets by Certain Coastal Municipalities › Section 1505.161. Lease and Sale of Facilities

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.201. Applicability of Subchapter

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.202. Definitions

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.203. Authority to Issue Revenue Bonds

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.204. Authority to Accept Loans and Grants

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.205. Location of Harbor Improvement or Facility

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.206. Pledge of Revenue

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.
(c)  To secure payment of principal of and interest on bonds 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;  or
(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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.207. Grant of Franchise

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.208. Bonds Not Payable From Taxes

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.209. Election

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.
(c)  This section does not apply to refunding bonds.
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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.210. Additional Bonds

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.211. Transfer of Pledged Revenue

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.212. Rates

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.213. Appointment of Receiver

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.214. Exemption From Assessment or Taxation

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.215. Authority to Issue Refunding Bonds

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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.216. Terms of Issuance of Refunding Bonds

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.
(c)  If two or more consecutive series or issues of bonds are 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.
2023 Texas Statutes › 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 E. Bonds for Harbor Improvements and Facilities in Coastal Municipalities With Population of Less Than 12,000 › Section 1505.217. Registration of Refunding Bonds by Comptroller

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.
2023 Texas Statutes › 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 F. Bonds for Harbor, Wharf, and Dock Facilities in Coastal Municipalities With Population of 5,000 or Less › Section 1505.251. Applicability of Subchapter

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.
2023 Texas Statutes › 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 F. Bonds for Harbor, Wharf, and Dock Facilities in Coastal Municipalities With Population of 5,000 or Less › Section 1505.252. Authority for Harbor, Wharf, and Dock Facilities

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.
2023 Texas Statutes › 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 F. Bonds for Harbor, Wharf, and Dock Facilities in Coastal Municipalities With Population of 5,000 or Less › Section 1505.253. Authority to Issue Bonds

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.
2023 Texas Statutes › 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 F. Bonds for Harbor, Wharf, and Dock Facilities in Coastal Municipalities With Population of 5,000 or Less › Section 1505.254. Election

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.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter A. Revenue Bonds for Parking Facilities in Home-Rule Municipalities With Population of Less Than 60,000 › Section 1506.001. Applicability of Subchapter

Sec. 1506.001.  APPLICABILITY OF SUBCHAPTER.  This Subchapter applies only to a home-rule municipality that:
(1)  has a population of less than 60,000;  and
(2)  on January 1, 1949, owned and operated a public parking lot.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter A. Revenue Bonds for Parking Facilities in Home-Rule Municipalities With Population of Less Than 60,000 › Section 1506.002. Authority to Issue Revenue Bonds

Sec. 1506.002.  AUTHORITY TO ISSUE REVENUE BONDS.  The governing body of a municipality by ordinance may issue revenue bonds to construct a building or other permanent improvement on a parking lot owned and operated by the municipality on January 1, 1949, for public parking or storage of motor vehicles.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter A. Revenue Bonds for Parking Facilities in Home-Rule Municipalities With Population of Less Than 60,000 › Section 1506.003. Pledge of Revenue

Sec. 1506.003.  PLEDGE OF REVENUE.  (a)  In this section, "net revenue" means gross revenue minus all operation and maintenance expenses.
(b)  Bonds issued under this subchapter may be secured only by a pledge of and be payable from the net revenue from the building or other improvement for which the bonds are issued and the parking lot on which the building or improvement is located.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter A. Revenue Bonds for Parking Facilities in Home-Rule Municipalities With Population of Less Than 60,000 › Section 1506.004. Bonds Not Payable From Taxes

Sec. 1506.004.  BONDS NOT PAYABLE FROM TAXES.  (a)  A bond issued under this subchapter:
(1)  is not a debt of the municipality;
(2)  may be a charge only on the revenue pledged for the payment of the bond;  and
(3)  may not be included in determining the power of the municipality to issue bonds payable from taxation.
(b)  A bond issued under this subchapter must contain on its face the following provision:  "The holder of this obligation is not entitled to demand payment of this obligation out of any money raised by taxation."
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter A. Revenue Bonds for Parking Facilities in Home-Rule Municipalities With Population of Less Than 60,000 › Section 1506.005. Election

Sec. 1506.005.  ELECTION.  A municipality may issue bonds under this subchapter without an election, but the governing body of the municipality may hold an election in compliance with Chapter 1251 to determine whether a majority of the qualified voters of the municipality voting in the election approve 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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter A. Revenue Bonds for Parking Facilities in Home-Rule Municipalities With Population of Less Than 60,000 › Section 1506.006. Maturity

Sec. 1506.006.  MATURITY.  A bond issued under this subchapter must:
(1)  be payable serially;  and
(2)  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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter A. Revenue Bonds for Parking Facilities in Home-Rule Municipalities With Population of Less Than 60,000 › Section 1506.007. Signatures

Sec. 1506.007.  SIGNATURES.  A bond issued under this subchapter must be signed by the mayor of the municipality and countersigned by the secretary 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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter A. Revenue Bonds for Parking Facilities in Home-Rule Municipalities With Population of Less Than 60,000 › Section 1506.008. Exemption From Taxation

Sec. 1506.008.  EXEMPTION FROM TAXATION.  A bond issued under this subchapter is exempt from taxation by this state or by a municipal corporation or any other political subdivision of this state.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter A. Revenue Bonds for Parking Facilities in Home-Rule Municipalities With Population of Less Than 60,000 › Section 1506.009. Personnel; Operation and Maintenance Expenses

Sec. 1506.009.  PERSONNEL;  OPERATION AND MAINTENANCE EXPENSES.  A municipality may employ personnel necessary to operate a building or other improvement financed under this subchapter.  The costs of operation and maintenance of the building or other improvement and the parking lot on which the building or other improvement is located are a first lien against the income from the operation of the facility.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter A. Revenue Bonds for Parking Facilities in Home-Rule Municipalities With Population of Less Than 60,000 › Section 1506.010. Fees for Services; Reserves

Sec. 1506.010.  FEES FOR SERVICES;  RESERVES.  (a)  A municipality may establish and enforce fees for the use of a building or other improvement financed under this subchapter and the parking lot on which the building or other improvement is located.
(b)  While the principal of or interest on a bond issued under this subchapter is outstanding, the municipality shall charge the fees in amounts at least sufficient to:
(1)  pay all operating and maintenance expenses in connection with the building or other improvement and the parking lot;
(2)  pay the principal of and interest on the outstanding bonds as the principal matures and as the interest accrues;  and
(3)  establish and maintain any reserves prescribed in the ordinance authorizing the issuance of the bonds.
(c)  Fees charged under this section must be equal and uniform within classes defined by the governing body 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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter A. Revenue Bonds for Parking Facilities in Home-Rule Municipalities With Population of Less Than 60,000 › Section 1506.011. Additional Bonds

Sec. 1506.011.  ADDITIONAL BONDS.  While any bonds issued under this subchapter are outstanding, the municipality may not issue additional bonds of equal dignity against the pledged revenue, except to the extent and in the manner expressly permitted in the ordinance authorizing the issuance of the outstanding 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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter B. Bonds for Parking Facilities in Home-Rule Municipalities › Section 1506.051. Applicability of Subchapter

Sec. 1506.051.  APPLICABILITY OF SUBCHAPTER.  This subchapter applies only to a home-rule 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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter B. Bonds for Parking Facilities in Home-Rule Municipalities › Section 1506.052. Authority for Parking Facilities

Sec. 1506.052.  AUTHORITY FOR PARKING FACILITIES.  (a)  A municipality may establish, acquire, lease as lessor or lessee, construct, improve, enlarge, equip, repair, operate, or maintain a structure, parking area, parking garage, or facility for off-street parking or storage of motor vehicles or other conveyances.
(b)  The municipality may:
(1)  regulate the use of a facility authorized by Subsection (a);  and
(2)  establish charges for use of the facility.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter B. Bonds for Parking Facilities in Home-Rule Municipalities › Section 1506.053. Authority to Establish Improvement Districts and Issue Bonds

Sec. 1506.053.  AUTHORITY TO ESTABLISH IMPROVEMENT DISTRICTS AND ISSUE BONDS.  The governing body of a municipality may:
(1)  designate by clearly defined boundaries one or more improvement districts within the municipality;  and
(2)  borrow money on the credit of the municipality by issuing bonds as provided by this subchapter to acquire or construct a facility authorized by Section 1506.052.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter B. Bonds for Parking Facilities in Home-Rule Municipalities › Section 1506.054. Election

Sec. 1506.054.  ELECTION.  (a)  A municipality may not issue bonds to acquire or construct a facility in an improvement district under this subchapter unless a majority of the qualified voters of the improvement district voting at an election held for that purpose approve the issuance of the bonds.
(b)  Each proposition to issue bonds in an improvement district under this subchapter must distinctly specify the purpose for which the bonds are to be issued and the facility to be acquired or constructed.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter B. Bonds for Parking Facilities in Home-Rule Municipalities › Section 1506.055. Form of Bond

Sec. 1506.055.  FORM OF BOND.  A bond issued under this subchapter must specify the purpose for which it is issued.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter B. Bonds for Parking Facilities in Home-Rule Municipalities › Section 1506.056. Sale of Bonds

Sec. 1506.056.  SALE OF BONDS.  A municipality may sell bonds issued under this subchapter in lots as the governing body of the municipality directs.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter B. Bonds for Parking Facilities in Home-Rule Municipalities › Section 1506.057. Interest and Sinking Fund Tax

Sec. 1506.057.  INTEREST AND SINKING FUND TAX.  (a)  A municipality may not issue bonds under this subchapter creating a debt against the municipality or an improvement district unless the municipality provides for the imposition of an annual ad valorem tax on property in the improvement district at a rate sufficient to:
(1)  pay the interest on the bonds;  and
(2)  create a sinking fund of at least two percent on the bonds.
(b)  The rate of the tax may not exceed 50 cents on the $100 valuation of property taxable by the municipality.
(c)  The tax is in addition to other taxes imposed by the municipality or authorized to be imposed by the municipal charter.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter B. Bonds for Parking Facilities in Home-Rule Municipalities › Section 1506.058. Proceeds of Tax

Sec. 1506.058.  PROCEEDS OF TAX.  The municipal treasurer shall keep money from the tax imposed under Section 1506.057 in a fund separate from other funds.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter B. Bonds for Parking Facilities in Home-Rule Municipalities › Section 1506.059. Investment of Sinking Fund

Sec. 1506.059.  INVESTMENT OF SINKING FUND.  The sinking fund for bonds issued under this subchapter may be invested in securities that are permitted by law for the investment of sinking funds for other municipal 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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter B. Bonds for Parking Facilities in Home-Rule Municipalities › Section 1506.060. Eminent Domain

Sec. 1506.060.  EMINENT DOMAIN.  A municipality may exercise the power of eminent domain to acquire the fee simple title to property to provide a site for a facility authorized by Section 1506.052.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter B. Bonds for Parking Facilities in Home-Rule Municipalities › Section 1506.061. Relocation or Alteration Expense

Sec. 1506.061.  RELOCATION OR ALTERATION EXPENSE.  If a municipality, in the exercise of a power under this subchapter, including the power of relocation, makes necessary the relocation or rerouting of, or alteration of the construction of, a highway, railroad, electric transmission line, telegraph or telephone property or facility, or pipeline, the relocation or rerouting or alteration of construction must be accomplished at the sole expense of the municipality.  In this section, "sole expense" means the actual cost of the relocation or rerouting or alteration of construction to provide comparable replacement without enhancement of the facility, after deduction of the net salvage value derived from the old facility.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.101. Applicability of Subchapter

Sec. 1506.101.  APPLICABILITY OF SUBCHAPTER.  This subchapter applies only to a municipality that:
(1)  is located on the Gulf of Mexico or on a channel, canal, bay, or inlet connected to the Gulf of Mexico; and
(2)  has a population of:
(A)  more than 53,000 and less than 84,000; or
(B)  more than 115,000 and less than 160,000.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 669, Sec. 29, eff. Sept. 1, 2001.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1163 (H.B. 2702), Sec. 31, eff. September 1, 2011.
Acts 2023, 88th Leg., R.S., Ch. 644 (H.B. 4559), Sec. 60, eff. September 1, 2023.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.102. Definition

Sec. 1506.102.  DEFINITION.  In this subchapter, "parking improvement" means a permanent public improvement consisting of a structure, parking area, or facility for off-street parking or storage of motor vehicles or other conveyances.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.103. Authority for Parking Improvements

Sec. 1506.103.  AUTHORITY FOR PARKING IMPROVEMENTS.  A municipality may establish, acquire, lease as lessor or lessee, construct, improve, enlarge, equip, repair, operate, or maintain a parking improvement.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.104. Authority to Issue Revenue Bonds

Sec. 1506.104.  AUTHORITY TO ISSUE REVENUE BONDS.  The governing body of a municipality by ordinance may issue revenue bonds to provide all or part of the money to establish, acquire, lease, construct, improve, enlarge, equip, or repair a parking improvement.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.105. Pledge of Revenue

Sec. 1506.105.  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 parking improvement for which the bonds are issued, as provided in the ordinance authorizing 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.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.106. Lien on Parking Improvement

Sec. 1506.106.  LIEN ON PARKING IMPROVEMENT.  Subject to any limitation contained in any previous pledge, the governing body of a municipality may, in addition to pledging the revenue from a parking improvement, give a lien on all or part of the physical property acquired with the proceeds from the sale 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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.107. Bonds Not Payable From Taxes

Sec. 1506.107.  BONDS NOT PAYABLE FROM TAXES.  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.
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 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.108. Contents of Ordinance Authorizing Bonds

Sec. 1506.108.  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 and maintenance of the parking improvement the revenue of which is pledged.  The ordinance may provide for the operation or lease, as lessor or lessee, of all or part of the parking improvement 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.