Sec. 1506.003. PLEDGE OF REVENUE

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(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.

                    
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