Texas Government Code 1502.052 – Pledge of Revenue
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(a) The governing body of a municipality may pledge to the payment of any public securities issued or any obligations incurred under § 1502.051(c) all or any part of the revenue of:
(1) a utility system;
(2) a park; or
(3) a swimming pool.
(b) The governing body of a municipality may grant a lien on the revenue pledged under Subsection (a). The lien has the priority determined by the governing body, subject to the provisions of § 1502.056.
Terms Used In Texas Government Code 1502.052
- Lien: A claim against real or personal property in satisfaction of a debt.