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Texas Statutes (Last Updated: January 4, 2014) |
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LOCAL GOVERNMENT CODE |
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Title 10. PARKS AND OTHER RECREATIONAL AND CULTURAL RESOURCES |
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Subtitle C. PARKS AND OTHER RECREATIONAL AND CULTURAL RESOURCES PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT |
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Chapter 334. SPORTS AND COMMUNITY VENUES |
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Subchapter C. POWERS AND DUTIES |
Sec. 334.043. BONDS AND OTHER OBLIGATIONS
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(a) A municipality or county in which an approved venue project is located may issue bonds, including revenue bonds and refunding bonds, or other obligations to pay the costs of the approved venue project.
(b) The bonds or other obligations and the proceedings authorizing the bonds or other obligations shall be submitted to the attorney general for review and approval as required by Chapter 1202, Government Code.
(c) The bonds or other obligations must be payable from and secured by the revenues in the venue project fund.
(d) The bonds or other obligations may mature serially or otherwise not more than 30 years from their date of issuance.
(e) The bonds or other obligations are not a debt of and do not create a claim for payment against the revenue or property of the municipality or county other than the revenue sources pledged and an approved venue project for which the bonds are issued.