Texas § 172.256 NONNEGOTIABLE PURCHASE MONEY NOTES; BOND ANTICIPATION NOTES.

Texas Statutes

§ 172.256 — NONNEGOTIABLE PURCHASE MONEY NOTES; BOND ANTICIPATION NOTES.

Texas § 172.256

Code TNTransportation Code

This text of Texas § 172.256 (NONNEGOTIABLE PURCHASE MONEY NOTES; BOND ANTICIPATION NOTES.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Transportation Code Code Ann. § 172.256 (2026).

Text

Sec. 172.256. NONNEGOTIABLE PURCHASE MONEY NOTES; BOND ANTICIPATION NOTES.

(a)A district may:

(1)issue nonnegotiable purchase money notes, payable in installments and secured by the property being acquired or constructed, to acquire or construct rail facilities; or

(2)secure the obligation of the notes by a pledge or by issuing bonds, including bond anticipation notes.

(b)A district may covenant with the purchaser of bond anticipation notes that the proceeds of one or more particular series of bonds will be used for the ultimate payment of the purchase money notes or bond anticipation notes.

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Sec. 172.256. NONNEGOTIABLE PURCHASE MONEY NOTES; BOND ANTICIPATION NOTES. (a) A district may:
(1) issue nonnegotiable purchase money notes, payable in installments and secured by the property being acquired or constructed, to acquire or construct rail facilities; or
(2) secure the obligation of the notes by a pledge or by issuing bonds, including bond anticipation notes.
(b) A district may covenant with the purchaser of bond anticipation notes that the proceeds of one or more particular series of bonds will be used for the ultimate payment of the purchase money notes or bond anticipation notes.