81st Texas Legislature, Senate Bill 1207, Chapter 519 Page: 2 of 3
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S.B. No. 1207
1 that is located within two counties and is not an eligible central
2 municipality may not pledge revenue under Subsection (b) in
3 relation to a particular hotel project after the earlier of:
4 (1) the 20th anniversary of the date the municipality
5 first pledged the revenue to the hotel project; or
6 (2) the date the revenue pledged to the hotel project
7 equals 40 percent of the hotel project's total construction cost.
8 SECTION 2. Subsection (b), Section 1504.001, Government
9 Code, is amended to read as follows:
10 (b) An eligible central municipality, as defined by Section
11 351.001, Tax Code, or a municipality with a population of 173,000 or
12 more that is located within two counties may establish, acquire,
13 lease as lessee or lessor, construct, improve, enlarge, equip,
14 repair, operate, or maintain a hotel, and any facilities ancillary
15 to the hotel, including shops and parking facilities, that are
16 owned by or located on land owned by the municipality or by a
17 nonprofit corporation acting on behalf of the municipality, and
18 that is located within 1,000 feet of a convention center facility
19 owned by the municipality.
20 SECTION 3. Subsection (b), Section 1504.002, Government
21 Code, is amended to read as follows:
22 (b) An eligible central municipality, as defined by Section
23 351.001, Tax Code, or a municipality with a population of 173,000 or
24 more that is located within two counties by ordinance may issue
25 bonds or incur other obligations to acquire, lease, construct, or
26 equip a facility described by Section 1504.001(b).
27 SECTION 4. This Act takes effect September i, 2009.2
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Texas. Legislature. Senate. 81st Texas Legislature, Senate Bill 1207, Chapter 519, legislative document, June 19, 2009; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth149314/m1/2/: accessed May 8, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.