Tex. Education Code § 45.158
This is the official text of Tex. Education Code § 45.158, part of Texas’s Education Code — governs public schools and universities in Texas.
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§ 45.158. CHARGES FOR USE OF STADIUM.
Official statutory text
(a) The board of directors shall charge sufficient rates for services rendered by the stadium and shall use other sources of its revenues so that revenues will be produced sufficient to:
(1) pay all expenses in connection with the ownership, operation, and upkeep of the stadium;
(2) pay the interest on the bonds as it becomes due;
(3) create a sinking fund to pay the bonds as they become due; and
(4) create and maintain a bond reserve fund and other funds as provided in the bond resolution or trust indenture.
(b) The bond resolution or trust indenture may prescribe systems, methods, routines, and procedures under which the stadium shall be operated.
(1) pay all expenses in connection with the ownership, operation, and upkeep of the stadium;
(2) pay the interest on the bonds as it becomes due;
(3) create a sinking fund to pay the bonds as they become due; and
(4) create and maintain a bond reserve fund and other funds as provided in the bond resolution or trust indenture.
(b) The bond resolution or trust indenture may prescribe systems, methods, routines, and procedures under which the stadium shall be operated.
Status: in_force · Read it on the official government site
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