Tex. Transportation Code § 364.050
This is the official text of Tex. Transportation Code § 364.050, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 364.050. TRUST INDENTURE.
Official statutory text
(a) Bonds issued under this chapter may be secured by a trust indenture between the county and a corporate trustee that is a trust company or a bank that has the powers of a trust company.
(b) The trust indenture may:
(1) pledge or assign the tolls, charges, and revenues from the operation of the toll bridge or bridges; or
(2) mortgage all or part of the toll bridge or bridges.
(b) The trust indenture may:
(1) pledge or assign the tolls, charges, and revenues from the operation of the toll bridge or bridges; or
(2) mortgage all or part of the toll bridge or bridges.
Status: in_force · Read it on the official government site
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