Texas Transportation Code
Sec. § 54.101
Definition


In this subchapter, “net revenue” means the gross revenue derived from the operation of a port improvement or facility the net revenue of which is pledged to the payment of an obligation less:

(1)

the reasonable expenses of maintaining and operating the port improvement or facility, including necessary repair, maintenance, and insurance of the port improvement or facility; and

(2)

if the municipality pledging the net revenue is a home-rule municipality, any annual payment of the municipality provided for in the charter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 20, eff. Sept. 1, 1999.
Source
Last accessed
Jan. 27, 2020