Tex. Transp. Code § 460.506 · Subchapter G. BONDS AND NOTES
SECURITY PLEDGED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
To secure the payment of an authority's bonds, the authority may:
(1) pledge all or part of revenue realized from any tax that is approved and levied;
(2) pledge any part of the revenue of the public transportation system;
(3) mortgage any part of the public transportation system regardless of when acquired; or
(4) pledge government grants, contractual revenue, or lease revenue.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1186, Sec. 1, eff. Sept. 1, 2001. Amended by Acts 2003, 78th Leg., ch. 306, Sec. 10, eff. Sept. 1, 2003.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 557 (S.B. 1876), Sec. 2, eff. September 1, 2009.
Acts 2009, 81st Leg., R.S., Ch. 928 (H.B. 3070), Sec. 2, eff. September 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.460.htm
- Text hash
- sha256 9c9f1fdd21e3650018865f5d44d41dc159a27df0977a27df74cfe2a9acd50a18
- 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.