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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 J. SPECIFIC AUTHORITY FOR MUNICIPALITIES TO ISSUE SECURITIES |
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Chapter 1506. BONDS FOR MUNICIPAL PARKING AND TRANSPORTATION FACILITIES |
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Subchapter A. REVENUE BONDS FOR PARKING FACILITIES IN HOME-RULE MUNICIPALITIES WITH POPULATION OF LESS THAN 60,000 |
Sec. 1506.010. FEES FOR SERVICES; RESERVES
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(a) A municipality may establish and enforce fees for the use of a building or other improvement financed under this subchapter and the parking lot on which the building or other improvement is located.
(b) While the principal of or interest on a bond issued under this subchapter is outstanding, the municipality shall charge the fees in amounts at least sufficient to:
(1) pay all operating and maintenance expenses in connection with the building or other improvement and the parking lot;
(2) pay the principal of and interest on the outstanding bonds as the principal matures and as the interest accrues; and
(3) establish and maintain any reserves prescribed in the ordinance authorizing the issuance of the bonds.
(c) Fees charged under this section must be equal and uniform within classes defined by the governing body of the municipality.