Texas § 201.974 PLEDGE OF STATE'S FULL FAITH AND CREDIT.

Texas Statutes

§ 201.974 — PLEDGE OF STATE'S FULL FAITH AND CREDIT.

Texas § 201.974

Code TNTransportation Code

This text of Texas § 201.974 (PLEDGE OF STATE'S FULL FAITH AND CREDIT.) 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. § 201.974 (2026).

Text

Sec. 201.974. PLEDGE OF STATE'S FULL FAITH AND CREDIT.

(a)The commission may guarantee on behalf of the state the payment of any obligations and credit agreements issued under Section 201.973 by pledging the full faith and credit of the state to the payment of the obligations and credit agreements in the event the revenue and money dedicated to the fund pursuant to Section 49-o (d), Article III, Texas Constitution, and on deposit in the fund pursuant to Section 49-o (e), Article III, Texas Constitution, are insufficient for that purpose.

(b)The exercise of the authority granted by Subsection (a) does not modify or relieve the commission from complying with Section 201.973 (e) or (f) and does not permit the issuance of aggregate obligations in an amount exceeding the maximum obligation am

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Sec. 201.974. PLEDGE OF STATE'S FULL FAITH AND CREDIT. (a) The commission may guarantee on behalf of the state the payment of any obligations and credit agreements issued under Section 201.973 by pledging the full faith and credit of the state to the payment of the obligations and credit agreements in the event the revenue and money dedicated to the fund pursuant to Section 49-o (d), Article III, Texas Constitution, and on deposit in the fund pursuant to Section 49-o (e), Article III, Texas Constitution, are insufficient for that purpose.
(b) The exercise of the authority granted by Subsection (a) does not modify or relieve the commission from complying with Section 201.973 (e) or (f) and does not permit the issuance of aggregate obligations in an amount exceeding the maximum obligation amount.
(c) If the commission exercises the authority granted by Subsection (a), the constitutional appropriation contained in Section 49-o (f), Article III, Texas Constitution, shall be implemented and observed by all officers of the state during any period during which obligations and credit agreements are outstanding and unpaid.