Texas Transportation Code
§ 317.110 — SECURITY FOR AND PAYMENT OF BONDS PAYABLE FROM REVENUE
TN § 317.110Title 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
View on source(a)Revenue bonds may be secured by a pledge of and paid from:
(1)the net revenue derived from the operation or use of all or a designated part of a facility then in existence or to be improved, constructed, or acquired;
(2)the revenue, proceeds, or payments that will accrue to or be received by the municipality under a lease-purchase contract or contract of sale relating to a facility; or
(3)a combination of those sources.
(b)While the principal of or interest on bonds is outstanding, the municipality shall:
(1)impose and collect charges in an amount sufficient to pay:
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Legislative history
Added by Acts 1999, 76th Leg., ch. 227, Sec. 24, eff. Sept. 1, 1999.