If the authority receives revenue in excess of that required for the purposes specified by Section 8506.154(b), the board may:(1) use the excess revenue to:(A) establish a reasonable depreciation and emergency fund; or(B) retire bonds issued under this chapter or its predecessor statute by purchase and cancellation or redemption; or(2) apply the excess revenue to any corporate purpose. Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.05, eff. April 1, 2017.
Texas Legal Code