CHAPTER 1473. OBLIGATIONS FOR COUNTY BUILDINGS
GOVERNMENT CODE
TITLE 9. PUBLIC SECURITIES
SUBTITLE I. SPECIFIC AUTHORITY FOR COUNTIES TO ISSUE SECURITIES
CHAPTER 1473. OBLIGATIONS FOR COUNTY BUILDINGS
SUBCHAPTER A. BONDS FOR PUBLIC LIBRARIES
Sec. 1473.001. AUTHORITY TO ISSUE PUBLIC LIBRARY BONDS. The
commissioners court of a county by order may authorize the
issuance of county bonds to finance all or part of the
acquisition, construction, improvement, enlargement, equipment,
or repair of a public library building.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.002. PLEDGE OF REVENUE. The commissioners court shall
provide for the payment of the principal of and interest on bonds
issued under this subchapter by pledging all or part of the
revenue derived from:
(1) the operation of the library building; or
(2) the lease of space in the library building.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.003. BONDS NOT PAYABLE FROM TAXES. An owner of a bond
issued under this subchapter is not entitled to demand payment of
the principal of or interest on the bond from money raised by
taxation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.004. CONTENTS OF ORDER AUTHORIZING BONDS. (a) The
order of the commissioners court authorizing the issuance of
bonds under this subchapter may provide for the flow of funds and
the establishment and maintenance of an interest and sinking
fund, a reserve fund, or another fund.
(b) The order may:
(1) prohibit the issuance of additional bonds or other
obligations payable from the pledged revenue; or
(2) reserve the right of the commissioners court to issue
additional bonds payable from the pledged revenue that are on a
parity with or subordinate to the lien and pledge on the revenue
that supports the bonds issued under the order.
(c) The commissioners court may include in the order any other
provision or covenant, including a covenant with respect to the
bonds, the pledge of revenue, or the operation or maintenance of
the library building.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.005. ADOPTION AND EXECUTION OF DOCUMENTS. The
commissioners court may adopt and have executed any other
proceeding or instrument necessary or convenient to the issuance
of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.006. MATURITY. A bond issued under this subchapter
must mature not later than 40 years after its date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.007. OPERATING AND LEASING CHARGES. (a) The
commissioners court shall:
(1) establish fees related to the operation of the library
building; and
(2) charge rent for the lease of space in the library building.
(b) The court shall establish the fees and rents in amounts to
provide revenue sufficient to pay all expenses related to the
ownership and operation of the library building, including:
(1) payment of the principal of and interest on bonds issued
under this subchapter; and
(2) the creation and maintenance of any required bond reserve
fund.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.008. REFUNDING BONDS. (a) A county may issue
refunding bonds to refund all or any part of its outstanding
bonds issued under this subchapter, including matured but unpaid
interest coupons. The comptroller shall register the refunding
bonds on the surrender and cancellation of the bonds being
refunded. The refunding may take place in one delivery or in
installment deliveries.
(b) The refunding bonds may be payable from the same sources as
the bonds to be refunded or from other additional sources.
(c) A county may, in the order authorizing the issuance of the
refunding bonds, provide for the sale of the refunding bonds and
the deposit of the proceeds in the place at which the bonds to be
refunded are payable. In that case, the refunding bonds may be
issued before the cancellation of the bonds to be refunded.
(d) If refunding bonds are issued before cancellation of the
bonds to be refunded, the county shall deposit an amount
sufficient to pay the principal of and interest on the bonds to
be refunded to their maturity dates, or to their option dates if
the bonds have been called for payment before maturity according
to their terms, in each place at which the bonds to be refunded
are payable. The comptroller shall register the refunding bonds
without the surrender and cancellation of bonds to be refunded.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.009. EXEMPTION FROM TAXATION. A bond issued under
this subchapter, any transaction related to the bond, and profits
made in the sale of the bond are exempt from taxation by this
state or by a municipality or other political subdivision of this
state.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
SUBCHAPTER B. BONDS FOR AUDITORIUMS, COLISEUMS, AND EXHIBIT
BUILDINGS
Sec. 1473.021. AUTHORITY FOR AUDITORIUM, COLISEUM, OR EXHIBIT
BUILDING. The commissioners court of a county may purchase or
construct a building or other permanent improvement to be used
for:
(1) a coliseum;
(2) an auditorium; or
(3) an annual exhibit of livestock or agricultural,
horticultural, or mineral products of the county.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.022. AUTHORITY TO ISSUE BONDS AND IMPOSE TAX. (a)
The commissioners court of a county may:
(1) issue bonds to finance the purchase or construction of a
building or improvement described by Section 1473.021; and
(2) impose a tax to pay the bonds.
(b) The commissioners court shall issue any bonds under this
subchapter and impose the tax in compliance with the applicable
provisions of Subtitles A and C.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.023. PAYMENT FOR BUILDINGS OR IMPROVEMENTS. A county
that maintains a permanent improvement fund shall pay for each
building or improvement described by Section 1473.021 from that
fund.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.024. LOCATION OF BUILDINGS OR IMPROVEMENTS. The
commissioners court may determine the location in the county for
a building or improvement described by Section 1473.021.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
SUBCHAPTER C. SECURITIES TO IMPROVE OR REPAIR CERTAIN BUILDINGS
Sec. 1473.051. DEFINITION. In this subchapter, "security" means
a bond, note, warrant, obligation, or other evidence of
indebtedness.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.052. AUTHORITY TO ISSUE OBLIGATIONS. (a) The
commissioners court of a county may issue securities to finance
the enlargement, alteration, improvement, or repair of a building
if:
(1) the building:
(A) is not the courthouse;
(B) is located at the county seat;
(C) is partly used for public business and partly rented for
private use; and
(D) was acquired by the county in settlement of an obligation
owed the county; and
(2) money is not available for the enlargement, alteration,
improvement, or repair.
(b) In issuing a security under this subchapter, the
commissioners court may pledge, assign, or encumber the net
income and revenue from that part of the building that the court
finds is not, and will not later be, necessary for a public
purpose.
(c) Repealed by Acts 1999, 76th Leg., ch. 1064, Sec. 47(4), eff.
Sept. 1, 1999.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999. Amended by Acts 1999, 76th Leg., ch. 1064, Sec. 47(4), eff.
Sept. 1, 1999.
Sec. 1473.053. OBLIGATIONS NOT PAYABLE FROM TAXES. (a) A
security issued under this subchapter:
(1) is not a debt of the county;
(2) may be a charge only on the revenue that is pledged,
assigned, or encumbered; and
(3) may not be included in determining the power of the county
to issue bonds for any purpose authorized by law.
(b) Each security issued under this subchapter must include the
following provision: "The holder of this obligation is not
entitled to demand payment of this obligation out of any money
raised by taxation."
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.054. RENT. For each part of a building described by
Section 1473.052(a) that is not used for a public purpose, the
county shall charge and collect rent in an amount sufficient to:
(1) pay all operating, maintenance, depreciation, replacement,
improvement, and interest charges and expenses for the building;
and
(2) create an interest and sinking fund sufficient to pay any
securities issued under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.055. LIENS ON AND USE OF REVENUE FROM BUILDING. (a)
Except as provided by Subsections (b) and (c), the income or
revenue of a building described by Section 1473.052(a) may not be
used to pay another debt, expense, or obligation of the county
until the securities secured by the revenue have been finally
paid.
(b) Each expense of operation and maintenance, including all
salaries, labor, materials, interest, improvements, repairs, and
extensions necessary to provide efficient service, and each
proper item of expense, is a first lien against the building's
revenue.
(c) An expense for a repair or extension is a first lien only if
the commissioners court finds the repair or extension is
necessary to:
(1) keep the building in operation and provide adequate service;
or
(2) respond to a physical accident or condition that would
otherwise impair a security issued under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.056. ELECTION NOT REQUIRED. The commissioners court
may issue securities under this subchapter without holding an
election to approve the issuance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
SUBCHAPTER D. BONDS FOR JAILS OR OTHER BUILDINGS
Sec. 1473.101. AUTHORITY TO ISSUE BONDS AND IMPOSE TAX. (a)
The commissioners court of a county may:
(1) issue bonds to pay for the purchase, construction,
improvement, or equipment of a building or jail under Section
292.001, Local Government Code, including the purchase or
improvement of a site for the building or jail; and
(2) impose a tax under Section 9, Article VIII, Texas
Constitution, to pay for the bonds.
(b) The commissioners court of a county that has a population of
more than 900,000 may:
(1) issue bonds to pay for the construction and equipment of a
courthouse or county branch office building, including the
acquisition of a site for the courthouse or branch office
building; and
(2) impose a tax to pay for the bonds.
(c) Except as otherwise provided by this subchapter, the
commissioners court shall issue any bonds and impose the tax in
compliance with the applicable provisions of Subtitles A and C.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.102. ELECTION PROPOSITIONS. The commissioners court
may submit one or more bond propositions at an election relating
to the issuance of bonds under this subchapter. Each proposition
may include one or more of the purposes provided by Section
1473.101.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
SUBCHAPTER E. BONDS FOR PARKING FACILITIES
Sec. 1473.131. DEFINITIONS. In this subchapter:
(1) "Bond order" means an order authorizing the issuance of
bonds under this subchapter.
(2) "Parking facility" means:
(A) a lot, area, or structure used primarily to park motor
vehicles;
(B) the site for the lot, area, or structure; and
(C) equipment used in connection with the maintenance and
operation of the lot, area, or structure.
(3) "Trust indenture" means an instrument, including a mortgage
or deed of trust, that secures bonds issued under this subchapter
by:
(A) a pledge of revenue; or
(B) a pledge of revenue and a mortgage lien on property.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.132. AUTHORITY FOR PARKING FACILITIES. The
commissioners court of a county may construct, enlarge, furnish,
equip, or operate a parking facility in the vicinity of any
county-owned facility or building if the court finds the action
to be in the best interest of the county and the county's
residents.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.133. OTHER FACILITIES WITHIN PARKING FACILITY. The
commissioners court may incorporate into a parking facility
authorized by Section 1473.132:
(1) a jury assembly room;
(2) office space;
(3) a nursery;
(4) toilet facilities;
(5) a snack bar; or
(6) a related facility.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.134. LEASE OF PARKING FACILITY. The commissioners
court may lease the parking facility to any person or
corporation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.135. AUTHORITY TO ISSUE BONDS. The commissioners
court by order may issue bonds to provide money to construct,
enlarge, furnish, or equip a parking facility authorized by this
subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.136. PLEDGE OF REVENUE; TAX. (a) Bonds issued under
this subchapter must be payable from and secured by a pledge of:
(1) the net revenue of the parking facility; and
(2) any other revenue incident to the ownership of the parking
facility, including money received from a lease of the facility.
(b) The commissioners court may also provide for the bonds to be
payable from and secured by the imposition of an ad valorem tax.
The tax may not exceed two and one-half cents on each $100
valuation of taxable property in the county.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.137. BONDS NOT PAYABLE FROM TAXES. (a) Except as
provided by Subsection (b), each bond issued under this
subchapter must include the following provision: "The holder of
this obligation is not entitled to demand payment of this
obligation from money raised by taxation."
(b) A bond may not contain the provision specified by Subsection
(a) if the commissioners court has provided for the payment of
the bond from tax revenue under Section 1473.136(b).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.138. MATURITY. A bond issued under this subchapter
must mature within 40 years.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.139. SIGNATURES; REGISTRATION BY COUNTY TREASURER. A
bond issued under this subchapter must be:
(1) signed by the county judge;
(2) countersigned by the county clerk; and
(3) registered by the county treasurer.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.140. ADDITIONAL BONDS. (a) The commissioners court
may issue bonds under this subchapter that are a junior lien on
the net revenue or property unless the bond order or trust
indenture prohibits their issuance.
(b) The commissioners court may issue parity bonds under
conditions in the bond order or trust indenture.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.141. SALE OF BONDS. The county may sell the bonds
under terms the commissioners court determines to be the most
advantageous and reasonably obtainable.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.142. USE OF BOND PROCEEDS. The commissioners court
may set aside from the bond proceeds:
(1) money to pay interest on the bonds; and
(2) money in the amount the commissioners court estimates to be
required for operating expenses until the parking facility
becomes sufficiently operational.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.143. RENTS AND RATES FOR SERVICES. The commissioners
court shall charge rents or rates for services of the parking
facility and shall use any other revenue generated by the parking
facility so that the revenues of the facility are sufficient to:
(1) pay the expenses of owning, operating, and maintaining the
facility;
(2) pay when due the principal of and interest on the bonds; and
(3) create and maintain a bond reserve fund and other funds as
provided by the bond order or trust indenture.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.144. REFUNDING BONDS. (a) The commissioners court
may issue bonds to refund outstanding bonds issued under this
subchapter.
(b) The refunding bonds may be issued in the manner provided by
this subchapter for other bonds.
(c) The refunding bonds may be issued to be exchanged by the
comptroller or to be sold, with the bond proceeds applied to the
payment of outstanding bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.145. PROVISIONS FOR OPERATION OF PARKING FACILITY.
The bond order or trust indenture may prescribe systems, methods,
routines, or procedures for the operation of the parking
facility.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.146. ELECTION NOT REQUIRED. The commissioners court
may issue bonds under this subchapter without holding an election
to approve the issuance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
SUBCHAPTER F. BONDS FOR PUBLIC HEALTH ADMINISTRATION BUILDINGS IN
CERTAIN COUNTIES
Sec. 1473.171. APPLICABILITY OF SUBCHAPTER. This subchapter
applies only to a county that:
(1) contains a municipality with a population of more than
275,000; and
(2) before April 27, 1965, ordered an election for the issuance
of bonds for:
(A) erecting a public health administration building; and
(B) acquiring a site and equipment for a public health
administration building.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.172. AUTHORITY FOR PUBLIC HEALTH ADMINISTRATION
BUILDING. If the bonds were approved at an election ordered
before April 27, 1965, the county alone or jointly with a
municipality located in the county, may:
(1) erect, maintain, expand, or repair a public health
administration building; or
(2) acquire a site or equipment for a public health
administration building.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.173. AUTHORITY TO ISSUE BONDS. (a) If the bonds were
approved at an election ordered before April 27, 1965, the county
may issue general obligation bonds to finance:
(1) the erection, maintenance, expansion, and repair of a
building authorized by Section 1473.172; and
(2) the acquisition of a site and equipment for the building.
(b) The commissioners court shall issue any bonds under this
subchapter in compliance with the applicable provisions of
Subtitles A and C.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.174. COST SHARING AND INTEREST IN JOINT PROJECTS. A
county and a municipality that jointly erect a public health
administration building under this subchapter shall share the
cost of, and shall each have an undivided interest in, the
building:
(1) as agreed by the governing bodies of the county and the
municipality; and
(2) as authorized by orders or ordinances adopted by the
governing bodies of the county and the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.175. USE OF JOINT PROJECT BUILDING. (a) Except as
provided by Subsection (b), a public health administration
building erected jointly by a county and a municipality under
this subchapter may be:
(1) used for any purpose that will contribute to the health of
the residents of the county and municipality; and
(2) occupied and used by the county and municipality jointly.
(b) The public health administration building may not be used
for hospital purposes.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
SUBCHAPTER G. BONDS FOR WORKHOUSES AND FARMS IN COUNTIES WITH A
POPULATION OF MORE THAN 900,000
Sec. 1473.191. APPLICABILITY OF SUBCHAPTER. This subchapter
applies only to a county with a population of more than 900,000.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.192. AUTHORITY TO ISSUE BONDS AND IMPOSE TAX. (a)
The commissioners court of a county may:
(1) issue bonds to pay for the acquisition, construction, or
equipment of a county workhouse or county farm to be used to
confine or to use the labor of county prisoners, including the
acquisition of a site for the workhouse or farm; and
(2) impose a tax to pay the bonds.
(b) A county that maintains a permanent improvement fund shall
deposit the tax to the credit of that fund to pay for an action
taken under Subsection (a)(1).
(c) The commissioners court shall issue any bonds under this
subchapter and impose the tax in compliance with the applicable
provisions of Subtitles A and C.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.193. ELECTION. (a) The commissioners court may issue
bonds under this subchapter only if more than a majority of the
qualified voters voting at an election held for that purpose
approve the bonds.
(b) Subsection (a) does not apply to refunding bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.194. ELECTION PROPOSITION. Bonds to be issued under
this subchapter may be submitted in a single proposition at the
bond election.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.195. NOTICE OF ELECTION. (a) In addition to the
notice required by Section 4.003(c), Election Code, notice of an
election under this subchapter shall be given by publication in a
newspaper of general circulation in the county.
(b) The notice must contain a substantial copy of the election
order.
(c) The notice must be published on the same day in each of two
consecutive weeks. The first publication must be at least 14 days
before the election.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
SUBCHAPTER H. CERTIFICATES OF INDEBTEDNESS FOR CRIME DETECTION
FACILITIES IN COUNTIES WITH POPULATION OF MORE THAN 900,000
Sec. 1473.231. APPLICABILITY OF SUBCHAPTER. This subchapter
applies only to a county with a population of more than 900,000.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.232. AUTHORITY TO OPERATE CRIME DETECTION FACILITIES;
FEES, CHARGES, AND EXPENSES. (a) The commissioners court of a
county may:
(1) operate and maintain the county's crime detection
facilities; and
(2) impose and collect fees or charges for services performed or
information provided to others in the use of the facilities.
(b) The commissioners court shall pay the operation and
maintenance expenses of the facilities from the fees or charges
or other available county funds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.233. AUTHORITY TO ISSUE CERTIFICATES OF INDEBTEDNESS
AND IMPOSE TAX. (a) The commissioners court by order may issue
certificates of indebtedness to finance the acquisition,
construction, repair, improvement, or equipment of a crime
detection facility, including the acquisition of any property in
connection with the facility.
(b) The commissioners court annually shall impose and pledge to
the payment of the certificates an ad valorem tax sufficient to
pay when due the principal of and interest on the certificates.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.234. MATURITY. A certificate of indebtedness issued
under this subchapter must mature not later than 40 years after
its date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.235. ELECTION NOT REQUIRED. The commissioners court
may issue certificates of indebtedness under this subchapter
without holding an election to approve the issuance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.236. LIMIT ON AMOUNT OF CERTIFICATES. The aggregate
principal amount of certificates of indebtedness issued under
this subchapter may not exceed $1.5 million.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
SUBCHAPTER I. BONDS FOR AUDITORIUM OR COLISEUM PARKING FACILITIES
IN COUNTIES WITH POPULATION OF MORE THAN ONE MILLION
Sec. 1473.261. APPLICABILITY OF SUBCHAPTER. This subchapter
applies only to a county that:
(1) has a population of more than one million; and
(2) has issued bonds to construct buildings or other permanent
improvements for a coliseum or auditorium in the county.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.262. DEFINITIONS. In this subchapter:
(1) "Bond order" means an order authorizing the issuance of
revenue bonds under this subchapter.
(2) "Parking facility" means:
(A) a lot, area, or structure used to park motor vehicles;
(B) the site for the lot, area, or structure; and
(C) equipment used in connection with maintenance and operation
of the lot, area, or structure.
(3) "Trust indenture" means an instrument, including a mortgage
or deed of trust, that secures bonds issued under this subchapter
by:
(A) a pledge of revenue; or
(B) a pledge of revenue and a mortgage lien on property.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.263. AUTHORITY FOR PARKING FACILITY. The
commissioners court of the county may construct, enlarge,
furnish, equip, and operate a parking facility in the vicinity of
a coliseum or auditorium if the court finds the action to be in
the best interest of the county and the county's residents.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.264. LEASE OF PARKING FACILITY. The commissioners
court may lease the parking facility to any person or
corporation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.265. AUTHORITY TO ISSUE REVENUE BONDS. The
commissioners court by order or trust indenture may issue revenue
bonds to provide money to construct, enlarge, furnish, or equip a
parking facility authorized by this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.266. PLEDGE OF REVENUE. Bonds issued under this
subchapter must be payable from, and secured by a pledge of, the
net revenue of the county's operation of the parking facility.
The bonds may be payable from any other revenue incident to the
ownership of the parking facility, including money received from
a lease of the facility.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.267. BONDS NOT PAYABLE FROM TAXES. Each bond issued
under this subchapter must include the following provision: "The
holder of this obligation is not entitled to demand payment of
this obligation from money raised by taxation."
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.268. MATURITY. A bond issued under this subchapter
must mature within 40 years.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.269. SIGNATURES; REGISTRATION BY COUNTY TREASURER. A
bond issued under this subchapter must be:
(1) signed by the county judge;
(2) countersigned by the county clerk; and
(3) registered by the county treasurer.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.270. ADDITIONAL BONDS. (a) The commissioners court
may issue bonds under this subchapter that are a junior lien on
the net revenue or property unless the bond order or trust
indenture prohibits their issuance.
(b) The commissioners court may issue parity bonds under
conditions in the bond order or trust indenture.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.271. SALE OF BONDS. The county may sell the bonds
under terms the commissioners court determines to be the most
advantageous and reasonably obtainable.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.272. USE OF BOND PROCEEDS. (a) The commissioners
court may set aside from the bond proceeds:
(1) money to pay interest on the bonds; and
(2) money in the amount the commissioners court estimates to be
required for operating expenses until the parking facility
becomes sufficiently operational.
(b) The commissioners court may not set aside money under this
section in an amount that exceeds the amount of money necessary
to cover interest and operating expenses for the estimated period
of construction and the first two years of operation, less any
earnings during that time.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.273. RENTS AND RATES FOR SERVICES. (a) The
commissioners court shall charge rates for services of the
facility, including rents under a lease, and shall use any other
revenue generated by the facility so that the revenues of the
facility are sufficient to:
(1) pay the expenses of owning, operating, and maintaining the
facility;
(2) pay the principal of and interest on the bonds when due; and
(3) create and maintain a bond reserve fund and other funds as
provided by the bond order or trust indenture.
(b) The county may not provide free use of the parking facility
to any person, firm, or corporation, except that the county and
any county agency or department may make free use of the facility
after bonds issued under this subchapter have been fully paid.
(c) The commissioners court may provide, in an order authorizing
the bonds or in a lease of the parking facility, for minimum
periodic payments from any county resource to the bond interest
and sinking fund or to the lessee for county or county agency or
department use of any part of the parking facility designated for
county or county agency or department use.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.274. REFUNDING BONDS. (a) The commissioners court
may issue bonds to refund outstanding bonds issued under this
subchapter.
(b) The refunding bonds may be issued in the manner provided by
this subchapter for other bonds.
(c) The refunding bonds may be issued to be exchanged by the
comptroller or to be sold, with the bond proceeds applied to the
payment of outstanding bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.275. PROVISIONS FOR OPERATION OF PARKING FACILITY.
The bond order or trust indenture may prescribe systems, methods,
routines, or procedures for the operation of the parking
facility.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.
Sec. 1473.276. ELECTION NOT REQUIRED. The commissioners court
may issue bonds under this subchapter without holding an election
to approve the issuance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
1999.