Tex. Transportation Code § 454.026
This is the official text of Tex. Transportation Code § 454.026, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 454.026. TRANSPORTATION SYSTEM FRANCHISE.
Official statutory text
In addition to encumbering the property of a mass transportation system under Section 454.025, a municipality, by the terms of an instrument evidencing that encumbrance, may grant to the purchaser under the power of sale in the instrument a franchise to operate the system and the system's property. A franchise under this section may not exceed 25 years.
Status: in_force · Read it on the official government site
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