1. (a) The governing body of the municipality may impose and collect a charge for the use or availability of:

   1. (1) municipal property, including a toll bridge or other facility; or
   2. (2) a municipal activity or operation.

2. (b) The governing body shall impose and collect pledged charges in an amount that will be at least sufficient, with any other pledged resource, to provide for the payment of:

   1. (1) the principal of, interest on, and any other amount required in connection with the bonds; and

   2. (2) to the extent required by the ordinance authorizing the issuance of the bonds:

      1. (A) expenses incurred in connection with the bonds; and
      2. (B) operation, maintenance, and other expenses incurred in connection with the property, toll bridge, or other facility.

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