Texas § 228.105 SOURCES OF PAYMENT OF AND SECURITY FOR TOLL REVENUE BONDS.

Texas Statutes

§ 228.105 — SOURCES OF PAYMENT OF AND SECURITY FOR TOLL REVENUE BONDS.

Texas § 228.105

Code TNTransportation Code

This text of Texas § 228.105 (SOURCES OF PAYMENT OF AND SECURITY FOR TOLL REVENUE BONDS.) 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. § 228.105 (2026).

Text

Sec. 228.105. SOURCES OF PAYMENT OF AND SECURITY FOR TOLL REVENUE BONDS. Notwithstanding any other provisions of this subchapter, toll revenue bonds issued by the commission may:

(1)be payable from and secured by:

(A)payments made under an agreement with a local governmental entity as provided by Section 228.254 ;

(B)the proceeds of bonds issued for the toll project or system;

(C)amounts deposited in a debt service reserve fund as required by the trust agreement securing bonds issued for the project or system; or

(D)surplus revenue of another toll project or system as authorized by Section 228.006 ; and

(2)state on their faces any pledge of revenue or taxes and any security for the bonds under the agreement. Transferred from Transportation Code, Section 361.174 and amended by Acts 20

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Sec. 228.105. SOURCES OF PAYMENT OF AND SECURITY FOR TOLL REVENUE BONDS. Notwithstanding any other provisions of this subchapter, toll revenue bonds issued by the commission may:
(1) be payable from and secured by:
(A) payments made under an agreement with a local governmental entity as provided by Section 228.254 ;
(B) the proceeds of bonds issued for the toll project or system;
(C) amounts deposited in a debt service reserve fund as required by the trust agreement securing bonds issued for the project or system; or
(D) surplus revenue of another toll project or system as authorized by Section 228.006 ; and
(2) state on their faces any pledge of revenue or taxes and any security for the bonds under the agreement.
Transferred from Transportation Code, Section 361.174 and amended by Acts 2005, 79th Leg., Ch. 281 (H.B. 2702 ), Sec. 2.42, eff. June 14, 2005.

Legislative History

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995. Amended by Acts 2003, 78th Leg., ch. 312, Sec. 25, eff. June 18, 2003; Acts 2003, 78th Leg., ch. 1325, Sec. 15.25, eff. June 21, 2003; Acts 2003, 78th Leg., 3rd C.S., ch. 8, Sec. 1.07, eff. Jan. 11, 2004.