Section 480.0252 - Issuance of Notes(a) To meet its obligations under an event support contract to improve, construct, renovate, or acquire facilities or to acquire equipment, an endorsing municipality by ordinance or an endorsing county by order may authorize the issuance of notes.(b) An endorsing municipality or endorsing county may provide that the notes be paid from and secured by:(1) amounts on deposit or amounts to be transferred or deposited to the events trust fund; or(2) surcharges from user fees charged in connection with the event, including parking or ticket fees.(c) A note issued must mature not later than the seventh anniversary of the date of issuance.Tex. Gov't. Code § 480.0252
Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. TBD,Sec. 1.01, eff. 4/1/2021.