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.
Use of Excess Revenue
Tex. Special District Local Laws Code § 8506.155, under Upper Colorado River Authority.
Tex. Special District Local Laws Code § 8506.155