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Tex. Special District Local Laws Code § 8506.155

USE OF EXCESS REVENUE

Texas · Texas Special District Local Laws Code · Status: effective

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Tex. Special District Local Laws Code § 8506.155, USE OF EXCESS REVENUE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/618674
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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.