Tex. Gov't Code § 1371.052 · Subchapter B. ISSUANCE AND APPROVAL OF OBLIGATION
TRANSPORTATION AUTHORITY OBLIGATION; ELECTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A transportation authority created, organized, and operating under Chapter 452, Transportation Code, may not issue an obligation, other than a refunding obligation, that is payable in whole or in part from its sales and use tax revenue and has a maturity longer than five years unless an election required by Section 452.352(b), Transportation Code, has been held and the proposition has been approved.
(b) An obligation that is exempt from the election requirement of Section 452.352(b), Transportation Code, by the terms of Chapter 452, Transportation Code, is also exempt from the election requirement of this section.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1371.htm
- Text hash
- sha256 fc2f0fc3694f17293209e6c5ee2de8ea2d703b7d47f93133c46f69913c1d8303
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
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