A municipality may encumber its airport and anything the municipality acquires relating to the airport to secure the payment of money to:

1. (1) purchase the airport; or
2. (2) construct, improve, enlarge, extend, or repair a permanent improvement, including a building, repair shop, or other structure.

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