Texas Government Code 1505.253 – Authority to Issue Bonds
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Terms Used In Texas Government Code 1505.253
- Property: means real and personal property. See Texas Government Code 311.005
A municipality may:
(1) issue bonds for a purpose described by Section 1505.252 and provide for the payment of the principal of and interest on the bonds from the income of the facility, including income from leasing the facility, less the reasonable cost of the operation and maintenance of the facility; or
(2) issue bonds for that purpose in the manner provided for the issuance of other municipal bonds payable from an ad valorem tax imposed on taxable property in the municipality.
