81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85 Page: 86 of 126
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S.B. No. 1540
1 Sec. 173.304. LIMIT ION POWER. (a) A revenue bond
2 inenture may limit the exercise of a power granted by Section
3 1731004, 173.005, 173.111, 173.151, 173.152, 173.153, 173.154,
4 173i155, 173.157, 173.159, 173.160, 173.201, 173.202, 173.203,
5 173.204, 173.205, 173.206 173.207, 173.208, 173.209, 173.251,
6 173.252, 173.253, 173.254, r 173.255.
7 ) The limitation lies while any of the revenue bonds
8 issued under the indenture are outstanding and unpaid. (V.A.C.S.
9 Art. 65 0c-1, Sec. 4(k) (part).)
10 Sections 173.305-173.350 reserved for expansion]
11 SUBCHAPTER H. SALES AND USE TAXES
12 :iSec. 173.351. TAX AUTHORIZED. A sales and use tax is
13 imposed on items sold on district property. (V.A.C.S. Art.
14 6550c-1, Sec. 9(a) (part).)
15 Sec. 173.352. TAX RATE. The sales and use tax shall be
16 imposed at the rate of the highest combination of local sales and
17 use taxes imposed at the time of the district's creation in any
18 local governmental jurisdiction that is part of the district.
19 (V.A.C.S. Art. 6550c-1, Sec. 9(a) (part).)
20 Sec. 173.353. PREEMPTION OF OTHER SALES AND USE TAXES. The
21 tax imposed under this subchapter preempts all other local sales
22 and use taxes that would otherwise be imposed on district property.
23 (V.A.C.S. Art. 6550c-1, Sec. 9(a) (part).)
24 Sec. 173.354. APPLICABILITY OF TAX CODE. Chapter 321, Tax
25 Code, governs the computation, administration, governance, and use
26 of the tax exce t as inconsistent with this chapter. (V.A.C.S. Art.
27 6501c-1, Sec. 9(b) (part).)
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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/m1/86/: accessed November 20, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.