Texas Transportation Code

§ 365.038 — COUNTY PAYMENTS RELATING TO DISTRICT BONDS

TN § 365.038Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 365. ROAD DISTRICT TOLL ROADS · Art. C. FINANCIAL PROVISIONS

Statute text

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(a)A county in which a district is located may pay:

(1)part of the principal or redemption price of or interest on the district's bonds; or

(2)the cost of operating or maintaining the district's toll road project.

(b)The county may establish or maintain a reserve fund or a depreciation and replacement fund for the district's bonds or toll road project as a supplement to the district's pledge of revenue for those purposes or instead of a pledge of the district's revenue or taxes.

Legislative history

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