Texas § 367.103 ADDITIONAL BONDS.

Texas Statutes

§ 367.103 — ADDITIONAL BONDS.

Texas § 367.103

Code TNTransportation Code

This text of Texas § 367.103 (ADDITIONAL 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. § 367.103 (2026).

Text

Sec. 367.103. ADDITIONAL BONDS.

(a)The municipality may issue additional revenue bonds to the extent permitted or authorized by the provisions of or the proceedings relating to outstanding bonds that are payable from the net revenue from the operation of the bridge, including any trust indenture securing the outstanding bonds.

(b)As permitted or authorized by those provisions and proceedings, the additional bonds may be secured by a pledge of and lien on the net revenue that are:

(1)junior to the pledge and lien securing the outstanding bonds; or

(2)on a parity with the outstanding bonds.

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Sec. 367.103. ADDITIONAL BONDS. (a) The municipality may issue additional revenue bonds to the extent permitted or authorized by the provisions of or the proceedings relating to outstanding bonds that are payable from the net revenue from the operation of the bridge, including any trust indenture securing the outstanding bonds.
(b) As permitted or authorized by those provisions and proceedings, the additional bonds may be secured by a pledge of and lien on the net revenue that are:
(1) junior to the pledge and lien securing the outstanding bonds; or
(2) on a parity with the outstanding bonds.