Texas Transportation Code

§ 456.065 — GUARANTEE FROM MUNICIPALITIES

TN § 456.065Title 6. ROADWAYS · Part K. MASS TRANSPORTATION · Ch. 456. STATE FINANCING OF PUBLIC TRANSPORTATION · Art. D. PASSENGER RAIL SERVICE ASSISTANCE PROGRAM

Statute text

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The department, on behalf of the commission and with the approval of the comptroller, shall secure an agreement or agreements with the municipalities served by an eligible corporation that receives assistance under this subchapter to further guarantee the repayment of half of any unpaid balance on a loan, including interest, made under this subchapter.

Legislative history

Added by Acts 1997, 75th Leg., ch. 110, Sec. 2, eff. May 16, 1997.