Texas Government Code 1477.003 – Bond Payments From Revenue or Taxes
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Terms Used In Texas Government Code 1477.003
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
The commissioners court may provide for payment of the principal of and interest on bonds issued under this subchapter by:
(1) pledging all or part of the revenue from a lease of all or part of the real property, building, or other facility financed by the bonds, after deduction of reasonable operation and maintenance costs;
(2) imposing an annual ad valorem tax; or
(3) combining those sources.