Tex. Transportation Code § 460.506
This is the official text of Tex. Transportation Code § 460.506, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 460.506. SECURITY PLEDGED.
Official statutory text
To secure the payment of an authority's bonds, the authority may:
(1) pledge all or part of revenue realized from any tax that is approved and levied;
(2) pledge any part of the revenue of the public transportation system;
(3) mortgage any part of the public transportation system regardless of when acquired; or
(4) pledge government grants, contractual revenue, or lease revenue.
(1) pledge all or part of revenue realized from any tax that is approved and levied;
(2) pledge any part of the revenue of the public transportation system;
(3) mortgage any part of the public transportation system regardless of when acquired; or
(4) pledge government grants, contractual revenue, or lease revenue.
Status: in_force · Read it on the official government site
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