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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 H. HOTEL OCCUPANCY TAXES |
Sec. 334.2516. USE OF REVENUE BY CERTAIN MUNICIPALITIES FOR CERTAIN PURPOSES
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(a) This section applies only to a municipality that:
(1) is located in three counties;
(2) has a population of less than 130,000 as shown by the 2000 federal decennial census; and
(3) acquires by purchase or lease with a term of not less than 20 years an interest in real property that by the terms of the acquisition is required to be maintained as park property.
(b) A municipality may use revenue under this subchapter to acquire, construct, improve, and equip a venue project that is a convention center facility or related infrastructure to be constructed on real property described by Subsection (a)(3). In addition, the municipality may pledge the revenue to the payment of bonds or other obligations the municipality issues to finance the convention center facility infrastructure.