Texas Transportation Code

§ 451.353 — BOND TERMS

TN § 451.353Title 6. ROADWAYS · Part K. MASS TRANSPORTATION · Ch. 451. METROPOLITAN RAPID TRANSIT AUTHORITIES · Art. H. BONDS

Statute text

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(a)An authority's bonds are fully negotiable. An authority may make the bonds redeemable before maturity at the price and subject to the terms and conditions that are provided in the authority's resolution authorizing the bonds.

(b)A revenue bond indenture may limit a power of the authority provided by Sections 451.054-451.060, 451.061(a) or (b), 451.064-451.069, 451.107(a), or 451.251 as long as the bonds issued under the indenture are outstanding.

Legislative history

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