Sec. 2259.034. PAYMENT SOURCE FOR PUBLIC SECURITIES: LOCAL GOVERNMENT. (a) Public securities issued by a local government under this subchapter may be payable from taxes imposed by and revenues of the local government, including:
(1) ad valorem, sales and use, and hotel occupancy taxes;
(2) revenue derived by the local government from any system or other specified source; or
(3) any combination of taxes and revenue.
(b) The issuance of public securities by a local government under this subchapter that are payable from ad valorem taxes is subject to the laws applicable to the issuance of public securities by the local government for other purposes, including Chapter 1251, with respect to the necessity for and conduct of an election.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 5, eff. Sept. 1, 1999.
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