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Texas Transportation Code - TRANSP § 228.105. Sources of Payment of and Security for Toll Revenue Bonds

Current as of January 01, 2024 | Updated by Findlaw Staff

Notwithstanding any other provisions of this subchapter, toll revenue bonds issued by the commission may:

(1) be payable from and secured by:

(A) payments made under an agreement with a local governmental entity as provided by Section 228.254;

(B) the proceeds of bonds issued for the toll project or system;

(C) amounts deposited in a debt service reserve fund as required by the trust agreement securing bonds issued for the project or system;  or

(D) surplus revenue of another toll project or system as authorized by Section 228.006;  and

(2) state on their faces any pledge of revenue or taxes and any security for the bonds under the agreement.

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Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 228.105. Sources of Payment of and Security for Toll Revenue Bonds - last updated January 01, 2024 | https://codes.findlaw.com/tx/transportation-code/transp-sect-228-105/

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