Tex. Gov't Code Section 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.

Source: Section 1503.107 — Charges for Services; Reserves, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­1503.­htm#1503.­107 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 1503.107’s source at texas​.gov