2005 Texas Government Code CHAPTER 1435. BONDS FOR PARKS AND FAIRGROUND FACILITIES IN CERTAIN MUNICIPALITIES AND COUNTIES

GOVERNMENT CODE

CHAPTER 1435. BONDS FOR PARKS AND FAIRGROUND FACILITIES IN CERTAIN 
MUNICIPALITIES AND COUNTIES

SUBCHAPTER A. GENERAL PROVISIONS


	§ 1435.001. APPLICABILITY OF CHAPTER;  JOINT MUNICIPAL 
AND COUNTY ACTION.  (a) This chapter applies only to:
		(1)  a municipality with a population greater than 
550,000;                 
		(2)  a county with a population greater than 550,000;  
or                   
		(3)  a municipality described by Subdivision (1) and a 
county described by Subdivision (2) acting together.
	(b)  A provision of this chapter that applies to a 
municipality or county also applies to a municipality and county 
acting together.

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


	§ 1435.002. DEFINITION.  In this chapter, "park facility" 
means a building, improvement, or structure owned by a municipality 
or county and used in a municipal or county park or fairground for 
exhibits, concessions, or entertainment.

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


	§ 1435.003. AUTHORITY FOR PARK FACILITIES.  A 
municipality or county may: 
		(1)  construct, acquire, repair, improve, or enlarge a 
park facility;  or   
		(2)  acquire additional land, if needed, for a park 
facility.               

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


	§ 1435.004. LEASE OR CONTRACT FOR OPERATION OF PARK 
FACILITIES.  A municipality or county may enter a lease or contract 
for the operation of one or more of its park facilities.

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

SUBCHAPTER B. BONDS


	§ 1435.051. AUTHORITY TO ISSUE REVENUE BONDS.  (a) To 
obtain money for a purpose described by Section 1435.003, the 
governing body of a municipality or county may, without an 
election, issue revenue bonds payable from and secured by a pledge 
of the net revenue from one or more of its park facilities or from 
leases of or contracts for the operation of the park facilities.
	(b)  A bond issued under this chapter must state on its face 
substantially the following:  "The holder of this bond is not 
entitled to demand payment of this bond out of money raised by 
taxation."

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


	§ 1435.052. MATURITY.  A bond issued under this chapter 
must mature within 40 years.

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


	§ 1435.053. DUTY OF GOVERNING BODY.  While the bonds are 
outstanding, the governing body of the municipality or county 
shall:
		(1)  enforce each lease or contract entered under 
Section 1435.004 and impose adequate fees, charges, and rentals to 
assure payment of the principal of and interest on the bonds as they 
become due;  and
		(2)  establish and maintain the funds as provided by 
the ordinance authorizing the issuance of the bonds.

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


	§ 1435.054. EXECUTION OF BONDS.  The bonds shall be 
executed as provided by law for municipal bonds.

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