Texas Transportation Code
§ 222.075 — REVENUE BONDS
TN § 222.075Title 6. ROADWAYS · Part B. STATE HIGHWAY SYSTEM · Ch. 222. FUNDING AND FEDERAL AID · Art. D. STATE INFRASTRUCTURE BANK
Statute text
View on source(a)The commission may issue revenue bonds for the purpose of providing money for the bank.
(b)Except as provided by Subsection (c), the commission may issue revenue bonds or revenue refunding bonds under this section without complying with any other law applicable to the issuance of bonds.
(c)Notwithstanding any other provision of this section, the following laws apply to bonds issued by the commission:
(1)Chapters 1201, 1202, 1204, 1231, and 1371, Government Code; and
(2)Subchapters A-C, Chapter 1207, Government Code.
(d)The revenue bonds are special obligations of the commission payable only from income and receipts of the bank as the commission may designate. The income and receipts include principal of and interest paid and to be paid on acquired obligations, other designated obligations held by the bank, or income from accounts created within the bank.
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Legislative history
Added by Acts 1997, 75th Leg., ch. 1171, Sec. 1.21, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.373, eff. Sept. 1, 2001.