Texas Transportation Code

§ 317.107 — CONTENTS OF ORDINANCE AUTHORIZING ISSUANCE OF REVENUE BONDS

TN § 317.107Title 6. ROADWAYS · Part E. MUNICIPAL STREETS · Ch. 317. ELIMINATION OF GRADE-LEVEL STREET CROSSINGS BY RAILROAD LINES IN MUNICIPALITIES WITH POPULATION OF MORE THAN 100,000 · Art. C. BONDS

Statute text

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(a)The ordinance of the governing body of the municipality authorizing the issuance of revenue bonds and the related proceedings may:

(1)provide for the flow of funds and the establishment and maintenance of an interest and sinking fund, reserve fund, or other fund;

(2)specify a depository for the money; and

(3)contain any additional covenant, as considered appropriate, with respect to the bonds, the pledged revenue, and the operation and maintenance of each facility the net revenue of which is pledged, including provisions for:

(A)the lease of a facility; and

(B)the use or pledge of money derived from that lease.

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Legislative history

Added by Acts 1999, 76th Leg., ch. 227, Sec. 24, eff. Sept. 1, 1999.