Texas Transportation Code

§ 364.052 — RIGHTS OF BONDHOLDERS; RECEIVERS

TN § 364.052Title 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)The trust indenture or the order or resolution authorizing the issuance of bonds under this chapter may include provisions to protect and enforce the rights and remedies of bondholders, including covenants determining the duties of the county in relation to:

(1)the acquisition of properties and the construction, maintenance, operation, repair, and insurance of the toll bridge or bridges; and

(2)the custody, safekeeping, and disposition of the county's toll bridge revenues.

(b)The holder of a bond issued under this chapter, including the trustee for a bondholder, in addition to all other rights may by mandamus or other judicial proceeding enforce the bondholder's rights against the county and its officers and employees, including the right to:

(1)require the county and its commissioners court:

(A)to impose and collect sufficient tolls and charges to carry out the agreements contained in the bond resolution or order or the trust indenture; or

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Legislative history

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