Tex. Transp. Code § 367.061 · Subchapter B. ACQUIRING EXISTING BRIDGE; BUILDING REPLACEMENT OR ADDITIONAL BRIDGE
MORTGAGE OR PLEDGE OF REVENUE TO SECURE BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
To accomplish any purpose of this subchapter, the governing body of a municipality may with respect to bonds issued under this subchapter:
(1) mortgage or pledge all or part of:
(A) any interest in a toll bridge of the municipality, together with any associated right or property described by Section 367.052, or any other property acquired or to be acquired with the bonds or the proceeds of the sale of the bonds; or
(B) the net or gross revenue of any property described by Paragraph (A);
(2) secure the payment of the principal of and interest on the bonds and of the sinking fund and reserve fund agreed to be established in connection with the bonds; and
(3) enter into any covenant or agreement with the purchasers of the bonds or any person on behalf of those purchasers with respect to the bonds to:
(A) secure the payments described by Subdivision (2); and
(B) provide rights and remedies to the purchasers or holders of the bonds or any person on their behalf.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 25, 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/TN/htm/TN.367.htm
- Text hash
- sha256 5f2ad4477fed9975d5a8c6343a7e737f4f879e0c6b5d901acff05c458d86befa
- 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
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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.