Texas Transportation Code

§ 228.104 — PAYMENT OF BONDS; CREDIT OF STATE NOT PLEDGED

TN § 228.104Title 6. ROADWAYS · Part B. STATE HIGHWAY SYSTEM · Ch. 228. STATE HIGHWAY TOLL PROJECTS · Art. C. TOLL REVENUE BONDS

(a)The principal of, interest on, and any redemption premium on bonds issued by the commission under this subchapter are payable solely from:

(1)the revenue of the toll project or system for which the bonds are issued, including tolls pledged to pay the bonds;

(2)the proceeds of bonds issued for the project or system;

(3)the amounts deposited in a debt service reserve fund as required by the trust agreement securing bonds issued for the project or system;

(4)amounts received under a credit agreement relating to the project or system for which the bonds are issued;

(5)surplus revenue of another project or system as authorized by Section 228.006; and

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