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Texas Statutes (Last Updated: January 4, 2014) |
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GOVERNMENT CODE |
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Title 9. PUBLIC SECURITIES |
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Subtitle I. SPECIFIC AUTHORITY FOR COUNTIES TO ISSUE SECURITIES |
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Chapter 1473. OBLIGATIONS FOR COUNTY BUILDINGS |
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Subchapter I. BONDS FOR AUDITORIUM OR COLISEUM PARKING FACILITIES IN COUNTIES WITH POPULATION OF MORE THAN ONE MILLION |
Sec. 1473.273. RENTS AND RATES FOR SERVICES
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(a) The commissioners court shall charge rates for services of the facility, including rents under a lease, and shall use any other revenue generated by the facility so that the revenues of the facility are sufficient to:
(1) pay the expenses of owning, operating, and maintaining the facility;
(2) pay the principal of and interest on the bonds when due; and
(3) create and maintain a bond reserve fund and other funds as provided by the bond order or trust indenture.
(b) The county may not provide free use of the parking facility to any person, firm, or corporation, except that the county and any county agency or department may make free use of the facility after bonds issued under this subchapter have been fully paid.
(c) The commissioners court may provide, in an order authorizing the bonds or in a lease of the parking facility, for minimum periodic payments from any county resource to the bond interest and sinking fund or to the lessee for county or county agency or department use of any part of the parking facility designated for county or county agency or department use.