Tex. Transp. Code § 201.964 · Subchapter N. HIGHWAY TAX AND REVENUE ANTICIPATION NOTES
FUND TRANSFERS; INTEREST; PAYMENT OF NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The department periodically shall transfer cash received in the state highway fund to the highway tax and revenue anticipation note fund to ensure the timely payment of the notes.
(b) On payment of all outstanding notes, rebates to the federal government, and costs of issuance, the department shall transfer to the state highway fund any amounts remaining in the highway tax and revenue anticipation note fund. If amounts credited to the highway tax and revenue anticipation note fund are insufficient to pay principal, any premium, interest, issuance costs, and any required rebate to the federal government, amounts in the state highway fund are available for appropriation by the legislature to make those payments.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1281, Sec. 2, eff. Sept. 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.201.htm
- Text hash
- sha256 ea8b3c499a0e3c04bdffb86179180661e8eb747f7f0e62b6b61a5a4c93e4daf9
- 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.