Texas § 54.154 TERMS OF ISSUANCE OF REVENUE REFUNDING OBLIGATIONS.

Texas Statutes

§ 54.154 — TERMS OF ISSUANCE OF REVENUE REFUNDING OBLIGATIONS.

Texas § 54.154

Code TNTransportation Code

This text of Texas § 54.154 (TERMS OF ISSUANCE OF REVENUE REFUNDING OBLIGATIONS.) 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. § 54.154 (2026).

Text

Sec. 54.154. TERMS OF ISSUANCE OF REVENUE REFUNDING OBLIGATIONS.

(a)Revenue refunding obligations may:

(1)be combined with new or original revenue obligations into one series or issue;

(2)be issued to refund obligations of more than one series or issue;

(3)combine the pledges securing the obligations to be refunded to secure the revenue refunding obligations; or

(4)be secured by a pledge of other or additional net revenue.

(b)A revenue refunding obligation may bear interest at a rate higher than that of the obligation to be refunded.

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Sec. 54.154. TERMS OF ISSUANCE OF REVENUE REFUNDING OBLIGATIONS. (a) Revenue refunding obligations may:
(1) be combined with new or original revenue obligations into one series or issue;
(2) be issued to refund obligations of more than one series or issue;
(3) combine the pledges securing the obligations to be refunded to secure the revenue refunding obligations; or
(4) be secured by a pledge of other or additional net revenue.
(b) A revenue refunding obligation may bear interest at a rate higher than that of the obligation to be refunded.