Tex. Transp. Code § 441.173 · Subchapter I. BONDS
FORM AND PROVISIONS OF BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district may issue the bonds in various series or issues. The bonds may mature serially or otherwise not more than 50 years after their date. The bonds may be made redeemable before maturity at the option of the district or may contain a mandatory redemption provision.
(b) An order or resolution of the board authorizing the issuance of the bonds, including refunding bonds, may:
(1) provide for the management of money;
(2) provide for the establishment and maintenance of an interest and sinking fund, a reserve fund, and other funds;
(3) prohibit further issuance of bonds or other obligations payable from pledged fees or reserve the right to issue additional bonds secured by a pledge of and payable from the fees on a parity with or subordinate to the pledge in support of the bonds being issued; and
(4) contain other covenants and provisions as the board determines.
(c) The board may adopt and have executed other proceedings or instruments necessary and convenient in connection with the issuance of bonds.
Notes and commentary — not statutory text
History
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.441.htm
- Text hash
- sha256 a6d2ac2744fb1948e3a7a11f047c22f72152060d7e48e88d77696272e152c563
- 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.