Sec. 8506.155. USE OF EXCESS REVENUE. If the authority receives revenue in excess of that required for the purposes specified by Section 8506.154(b), the board may:
(1) use the excess revenue to:
(A) establish a reasonable depreciation and emergency fund; or
(B) retire bonds issued under this chapter or its predecessor statute by purchase and cancellation or redemption; or
(2) apply the excess revenue to any corporate purpose.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.05, eff. April 1, 2017.
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