Texas Transportation Code

§ 431.070 — BONDS AND NOTES

TN § 431.070Title 6. ROADWAYS · Part I. TRANSPORTATION CORPORATIONS · Ch. 431. TEXAS TRANSPORTATION CORPORATION ACT · Art. C. CORPORATE POWERS

(a)A corporation may issue bonds and notes to carry out its purpose.

(b)The bonds and notes may be issued under any power or authority available to the corporation, including Chapter 1201, Government Code.

(c)A bond or note must state on its face that it is not an obligation of the State of Texas.

Legislative history

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.394, eff. Sept. 1, 2001.