(a) The district may pledge all or part of the revenue derived from any source other than taxation to the payment of revenue bonds issued by the district, including:
(1) revenue derived from the operation of:
(A) existing facilities;
(B) facilities to be acquired wholly or partly with the proceeds of the bonds; and
(C) other facilities to be acquired, regardless of the source of financing;
(2) royalties and rentals from the lease of oil, gas, or other mineral properties owned by the district; and
(3) revenue derived from property owned by the district and leased to others.
(b) As considered necessary to ensure the marketability of the obligations, a resolution or order authorizing the issuance of revenue bonds may contain covenants with the holders of the obligations as to:
(1) the development, management, and operation of the district’s improvements and facilities;
(2) the collection of fees and charges for the use of the improvements and facilities;
(3) the disposition of the fees and charges;
(4) the issuance of future obligations and the creation of future liens and encumbrances against the improvements and facilities and the revenue of the improvements and facilities; and
(5) other pertinent matters.

Terms Used In Texas Special District Local Laws Code 5010.0504

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Property: means real and personal property. See Texas Government Code 311.005

(c) Revenue bonds, if payable from a source other than taxation, may be issued on a parity with other revenue bonds issued under this chapter or other applicable law, and the revenue bonds and parity revenue bonds may be payable from the same source.