81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85 Page: 84 of 126
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SS.B. No. 1540
1 ( id) The agreement may establish one or more transportation
2 infrast ucture zones. The district and the local government may
3 agree tat, at one or more specified times, the local government
4 will pay to the district an amount that is calculated on the basis
5 of i ncreased ad valorem tax collections in a zone that Are
6 at ributable to increased values of property located in the zone
7 resulting from an infrastructure project. The amount may not
8 exceed an amount that is equal to 30 percent of the increase in ad
9 valorem tax collections for the specified period.
10 (e) Money received by the district under this section may be
12 (1) to provide a local match for the acquisition of
13 right-of-way in the territory of the local government; or
14 (2) for design, construction, operation, or
15 maintenance of transportation facilities in the territory of the
16 local government. (V.A.C.S. Art. 6550c-1, Sec. 8.)
17 Sec. 173.257. TAX EXEMPTION. District property, material
18 purchases, revenue, and income and the interest on bonds and notes
19 isued by the district are exempt from any tax imposed by this state
20 or ,olitical subdivision of this state. (V.A.C.S. Art. 6550c-1,
21 Sec .7.)
22 [Sections 173.258-173.300 reserved for expansion]
23 SUBCHAPTERG. BONDS
24 ISec. 173.301. REVENUE BONDS. A district may issue revenue
25 bodsand notes in amounts that the board considers necessary or
26 appropriate for the acquisition, purchase, construction,
27 reconstruction, repair, equipping, improvement, or extension of
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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/m1/84/: accessed December 16, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.