Tex. Gov't Code Section 1502.052
Pledge of Revenue

(a)

The governing body of a municipality may pledge to the payment of any public securities issued or any obligations incurred under Section 1502.051 (Authority to Issue Public Securities)(c) all or any part of the revenue of:

(1)

a utility system;

(2)

a park; or

(3)

a swimming pool.

(b)

The governing body of a municipality may grant a lien on the revenue pledged under Subsection (a). The lien has the priority determined by the governing body, subject to the provisions of Section 1502.056 (Operating Expenses as First Lien).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Renumbered from Government Code Sec. 1502.054 and amended by Acts 1999, 76th Leg., ch. 1064, Sec. 22, eff. Sept. 1, 1999.

Source: Section 1502.052 — Pledge of Revenue, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­1502.­htm#1502.­052 (accessed Apr. 20, 2024).

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Accessed:
Apr. 20, 2024

§ 1502.052’s source at texas​.gov