Tex. Transp. Code § 454.026 · Subchapter B. REVENUE BONDS AND NOTES
TRANSPORTATION SYSTEM FRANCHISE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In addition to encumbering the property of a mass transportation system under Section 454.025, a municipality, by the terms of an instrument evidencing that encumbrance, may grant to the purchaser under the power of sale in the instrument a franchise to operate the system and the system's property. A franchise under this section may not exceed 25 years.
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.454.htm
- Text hash
- sha256 cb9da1483132f7942f43d19db7f2b1d1b9bc98ad6ea44c23ac668d5a52738c59
- 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
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