Tex. Transportation Code § 201.962
This is the official text of Tex. Transportation Code § 201.962, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 201.962. NOTES AUTHORIZED; COMMITTEE APPROVAL.
Official statutory text
(a) In anticipation of a temporary cash flow shortfall in the state highway fund during any fiscal year, the commission, subject to the approval of the committee, may issue, sell, and deliver tax and revenue anticipation notes on behalf of the state.
(b) Before issuing the notes, the commission shall submit to the committee a state highway fund cash flow shortfall forecast containing a detailed report of estimated revenue and expenditures. Based on the forecast, the committee may approve the issuance of notes in an amount not to exceed the maximum temporary cash flow shortfall forecast.
(b) Before issuing the notes, the commission shall submit to the committee a state highway fund cash flow shortfall forecast containing a detailed report of estimated revenue and expenditures. Based on the forecast, the committee may approve the issuance of notes in an amount not to exceed the maximum temporary cash flow shortfall forecast.
Status: in_force · Read it on the official government site
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