Texas Transportation Code

§ 54.101 — DEFINITION

TN § 54.101Title 4. NAVIGATION · Part A. WATERWAYS AND PORTS · Ch. 54. HARBOR AND PORT FACILITIES IN CERTAIN MUNICIPALITIES · Art. C. OBLIGATIONS

Statute text

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In this subchapter, "net revenue" means the gross revenue derived from the operation of a port improvement or facility the net revenue of which is pledged to the payment of an obligation less:

(1)the reasonable expenses of maintaining and operating the port improvement or facility, including necessary repair, maintenance, and insurance of the port improvement or facility; and

(2)if the municipality pledging the net revenue is a home-rule municipality, any annual payment of the municipality provided for in the charter.

Legislative history

Added by Acts 1999, 76th Leg., ch. 227, Sec. 20, eff. Sept. 1, 1999.