Tex. Transp. Code § 172.256 · Subchapter F. FINANCIAL PROVISIONS
NONNEGOTIABLE PURCHASE MONEY NOTES; BOND ANTICIPATION NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A district may:
(1) issue nonnegotiable purchase money notes, payable in installments and secured by the property being acquired or constructed, to acquire or construct rail facilities; or
(2) secure the obligation of the notes by a pledge or by issuing bonds, including bond anticipation notes.
(b) A district may covenant with the purchaser of bond anticipation notes that the proceeds of one or more particular series of bonds will be used for the ultimate payment of the purchase money notes or bond anticipation notes.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 85 (S.B. 1540), Sec. 2.04, eff. April 1, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.172.htm
- Text hash
- sha256 e60713f8ac701c1c84b724eb2d2d9df15505033741dbd83bbd45ebc92f4037de
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.