Sec. 1503.060. CHARGES FOR SERVICE OR FACILITY. (a) The governing body of a municipality that issues warrants under this subchapter shall prescribe by ordinance and collect a reasonable rate, rent, or other charge for the service or facility furnished by the airport for which the warrants are issued.
(b) The charges under Subsection (a) must be in an amount that will produce revenue sufficient to:
(1) pay when due the principal of and interest on all warrants for which the revenue has been pledged, including reserves; and
(2) provide for all expenses of operation and maintenance of the airport for which the warrants were issued, including reserves.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
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