Tex. Transp. Code § 367.103 · Subchapter C. BONDS FOR REPAIR OR IMPROVEMENT OF TOLL BRIDGE
ADDITIONAL BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The municipality may issue additional revenue bonds to the extent permitted or authorized by the provisions of or the proceedings relating to outstanding bonds that are payable from the net revenue from the operation of the bridge, including any trust indenture securing the outstanding bonds.
(b) As permitted or authorized by those provisions and proceedings, the additional bonds may be secured by a pledge of and lien on the net revenue that are:
(1) junior to the pledge and lien securing the outstanding bonds; or
(2) on a parity with the outstanding bonds.
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 b84f21cc464a09fe9160e9a07b50176d9f709884e197395c104c5a10588d1b27
- 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.