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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 1508. OBLIGATIONS FOR MUNICIPAL PARKS, RECREATIONAL FACILITIES, AND AIRPORTS |
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Subchapter E. CERTIFICATES OF INDEBTEDNESS FOR SEA LIFE PARK AND OCEANARIUM |
Sec. 1508.205. AUTHORITY TO ENTER INTO AGREEMENT REGARDING PUBLIC FACILITIES
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(a) The governing body of a municipality may enter into an agreement relating to the operation, maintenance, development, expansion, equipment, or supplying of a public facility described by Section 1508.202.
(b) An agreement authorized by Subsection (a) may be entered into only:
(1) on the issuance of certificates of indebtedness under this subchapter; or
(2) in anticipation of:
(A) the issuance of certificates of indebtedness under this subchapter; or
(B) the receipt of revenue from a public facility instead of the issuance of certificates of indebtedness.
(c) The agreement may be of a type, on the terms, and entered into under procedures that the governing body determines best, necessary, and proper.
(d) The proceeds from the certificates of indebtedness, or the revenue received instead of issuing certificates, may be used to satisfy an agreement under this section.