81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85 Page: 60 of 126
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18 adequate to:
19 (1) pay all expenses necessary for the operation and
20 ma enance of the district's property and facilities;
21i (2) pay the principal of and interest on all bonds
22 issued by the district payable wholly or partly from the revenue, as
23 they become due and payable; and
24 (3) fulfill the terms of agreements made with the
25 holders of bonds or with any person on their behalf. (V.A.C.S.
26 Art 6550c, Sec. 5(j).)
27 Sec. 172.208. OPERATION OR USE CONTRACTS. (a) A district
S.B. No. 1540
district may acquire by grant, purchase, gift, devise, lease, or-
otherw'i e and may hold, use, sell, lease, or dispose of property,
including a license, a patent, a right, or an interest, necessary,
conv nient, or useful for the full exercise of its powers under this
chapter. (V.A.C.S. Art. 6550c, Sec. 5(d).)
. Sec. 172.206. ACQUISITION OF ROLLING STOCK AND OTHER
PROPERTY. A district may acquire rolling stock or other property,
under! a conditional sales contract, lease, equipment trust
certificate, or other form of contract or trust agreement.
(V.A .C.S. Art. 6550c, Sec. 5(k) (part).)
" Sec. 172.207. COMPENSATION FOR USE OF SYSTEM FACILITIES.
(a)r A district shall establish and maintain reasonable and
nondiscriminatory rents or other compensation for the use of the
facilities of the system acquired, constructed, operated,
regulated, or maintained by the district.
6 (b) Together with grants received by the district, the rents
7 or other compensation must be sufficient to produce revenue
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Texas. Legislature. Senate. 81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85, legislative document, May 20, 2009; [Austin, Texas]. (texashistory.unt.edu/ark:/67531/metapth310917/m1/60/: accessed July 25, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.