Tex. Transportation Code § 452.362
This is the official text of Tex. Transportation Code § 452.362, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 452.362. ELECTION TO PLEDGE TAXES.
Official statutory text
(a) The executive committee may order an election to authorize the pledge of sales and use tax revenue to the payment of a specified amount of long-term bonds for the authority's public transportation system.
(b) Sales and use tax revenue at a rate higher than the previously approved rate may not be pledged.
(c) The notice of election shall be published, the proposition and ballot prepared, and the election held in accordance with and at the times permitted by the law applicable to a municipal bond election. The authority may publish, or distribute in another manner, additional copies of the election order to inform the voters fully of its content.
(d) If the proposition is approved, the authority may issue bonds in an amount not exceeding the amount approved.
(b) Sales and use tax revenue at a rate higher than the previously approved rate may not be pledged.
(c) The notice of election shall be published, the proposition and ballot prepared, and the election held in accordance with and at the times permitted by the law applicable to a municipal bond election. The authority may publish, or distribute in another manner, additional copies of the election order to inform the voters fully of its content.
(d) If the proposition is approved, the authority may issue bonds in an amount not exceeding the amount approved.
Status: in_force · Read it on the official government site
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