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Tex. Spec. Dist. Local Laws Code § 8512.0406

USE OF EXCESS REVENUE

Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.02, eff

If the authority receives revenue in excess of that required for the purposes specified by Sections 8512.0405(b)(1), (2), (3), and (5), 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 by purchase and cancellation or redemption; or

(2) apply the excess revenue to any corporate purpose.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.