Texas Transportation Code

§ 364.045 — COMBINATION BONDS AND AD VALOREM TAX TO FINANCE INTERNATIONAL TOLL BRIDGE OR IMPROVEMENT

TN § 364.045Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 364. TOLL BRIDGES IN COUNTIES BORDERING THE RIO GRANDE · Art. C. BONDS AND FINANCES

Statute text

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(a)A county may issue combination tax and revenue bonds to construct all or part of an international toll bridge or other improvement spanning the Rio Grande and may impose an ad valorem tax to pay all or part of the bonds if the issuance of the bonds and the imposition of the tax are approved by a majority of the votes received at an election held in the county for that purpose.

(b)The commissioners court of a county may call an election under this section on its own motion at any regular session of the court. The commissioners court shall call an election under this section at the next regular session of the court following the submission to the court of a petition requesting the election signed by a number of registered voters of the county that is equal to at least one percent of the number of votes cast in the county in the most recent general election for governor.

(c)The election order and notice of election must include:

(1)the purpose for which the bonds are to be issued;

(2)the amount of the bonds;

(3)the rate of interest; and

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Legislative history

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.