Tex. Transp. Code § 451.362 · Subchapter H. BONDS
SHORT-TERM BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Notwithstanding other provisions of this chapter and except as provided by Subsections (c) and (d), the board, by order or resolution, may issue bonds that are secured by revenue or taxes of the authority if the bonds:
(1) have a term of not more than 12 months; and
(2) are payable only from revenue or taxes received on or after the date of their issuance and before the end of the fiscal year following the fiscal year in which the bonds are issued.
(b) A bond issued under this section need not be approved by the attorney general or registered with the comptroller.
(c) In an authority in which the principal municipality has a population of 1.5 million or more, bonds may have a term of not more than five years. The bonds are payable only from revenue on taxes received on or after the date of their issuance.
(d) In an authority created before 1980 in which the principal municipality has a population of less than 1.9 million, bonds may have a term of not more than 10 years. The bonds are payable only from fee revenue received on or after the date the bonds are issued.
Notes and commentary — not statutory text
History
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995. Amended by Acts 2003, 78th Leg., ch. 1325, Sec. 19.09, eff. Sept. 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 89 (S.B. 1074), Sec. 1, eff. May 14, 2007.
Acts 2011, 82nd Leg., R.S., Ch. 1163 (H.B. 2702), Sec. 155, eff. September 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.451.htm
- Text hash
- sha256 5509eae3dec1de377302c87a8f771b41d04a71290f01f469ae6876328c972c15
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Transp. Code § 451.362. Each shows the citation as that text prints it.
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