Tex. Transp. Code § 460.506

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 460.506 - Security Pledged

To secure the payment of an authority's bonds, the authority may:

(1) pledge all or part of revenue realized from any tax that is approved and levied;

(2) pledge any part of the revenue of the public transportation system;

(3) mortgage any part of the public transportation system regardless of when acquired; or

(4) pledge government grants, contractual revenue, or lease revenue.

Tex. Transp. Code § 460.506

Acts 2009, 81st Leg., R.S., Ch. 928 (H.B. 3070), Sec. 2, eff. September 1, 2009

Amended by: Acts 2009, 81st Leg., R.S., Ch. 557 (S.B. 1876), Sec. 2, eff. September 1, 2009

Amended by Acts 2003, 78th Leg., ch. 306, Sec. 10, eff. Sept. 1, 2003

Added by Acts 2001, 77th Leg., ch. 1186, Sec. 1, eff. Sept. 1, 2001.