Tex. Gov't Code § 2259.063

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 2259.063 - Payment Source for Group: Local Government

(a) A local government may make a payment under a risk retention group agreement from proceeds of taxes imposed by and revenues of the local government, including:

(1) ad valorem, sales and use, and hotel occupancy taxes;

(2) revenue derived by the local government from any system or other specified source; or

(3) any combination of taxes and revenue.

(b) A local government that does not have authority to impose ad valorem taxes for payment of contractual debts may make a payment under a risk retention group agreement from an annual appropriation of proceeds of ad valorem taxes the local government is authorized to impose.

Tex. Gov't. Code § 2259.063

Added by Acts 1999, 76th Leg., ch. 227, Sec. 5, eff. 9/1/1999.