Tex. Transportation Code § 228.105
This is the official text of Tex. Transportation Code § 228.105, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 228.105. SOURCES OF PAYMENT OF AND SECURITY FOR TOLL REVENUE BONDS.
Official statutory text
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.
(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.
Status: in_force · Read it on the official government site
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