- (a) On or before July 1 of each year, the board shall prepare and file with the county clerk of each of the counties a complete financial statement showing the financial status of the board and the board's properties, funds, and indebtedness.
(b) The financial statement must show separately all information concerning:
- (1) revenue bonds;
- (2) income from facilities the income of which is pledged to the bonds, and the expenditures from that income; and
- (3) money appropriated to the board by the commissioners courts for operational and maintenance expenses.
- (c) At the same time the financial statement is filed, the board shall file with the county clerk of each of the counties a proposed budget of its needs for the next calendar year.
- (d) The board shall operate the parks under its control, the revenues of which are pledged to the payment of bonds, in a manner that will produce gross revenues sufficient to pay the operation and maintenance expenses of the facilities.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.