Gavvy: Gov’t Code, Sec. 1503.152. Pledge of Income.

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Sec. 1503.152. Pledge of Income.

Sec. 1503.152. PLEDGE OF INCOME. A municipality may pledge the income from its airport and anything the municipality acquires relating to the airport to secure the payment of money to:

(1) purchase the airport; or

(2) construct, improve, enlarge, extend, or repair a permanent improvement, including a building, repair shop, or other structure.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Gavvy last updated this database on: Sep 6, 2024