USE OF EXCESS REVENUE.

Tex. SPEC. DIST. LOCAL LAWS Code § 8506.155.
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
If the authority receives revenue in excess of that required for the purposes specified by Section 8506.154 (b), the board may: (1) use the excess revenue to: (A) establish a reasonable depreciation and emergency fund; or (B) retire bonds issued under this chapter or its predecessor statute by purchase and cancellation or redemption; or (2) apply the excess revenue to any corporate purpose. Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162 ), Sec. 1.05, eff. April 1, 2017.
Source: TX Statutes (Official Site)URL: https://statutes.capitol.texas.gov/Fetched: 6/29/2026