Sec. 307.046.  ADDITIONAL TAX;  TIME WARRANTS.  (a)  In addition to the taxes authorized for the payment of principal of and interest on bonds, the governing body of the municipality may levy and collect an annual ad valorem tax for the purpose of:
(1)  defraying in part the cost of acquiring, building, constructing, erecting, furnishing, or equipping the pier or a structure or improvement, or the cost of any interest in land in connection with the pier, structure, or improvement;  or
(2)  repairing, enlarging, extending, altering, or improving the pier or a structure or improvement.
(b)  The governing body may issue interest-bearing time warrants, payable from the taxes authorized by this section, and expend the proceeds for the same purposes for which the taxes may be levied.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.