Tex. Transportation Code § 54.105
This is the official text of Tex. Transportation Code § 54.105, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 54.105. LIMITATION ON AGGREGATE AMOUNT OF EXPENSE WARRANTS.
Official statutory text
The aggregate amount of expense warrants issued under Section 54.104(a)(2) that are outstanding at any time during a fiscal year may not exceed 50 percent of the difference between:
(1) the revenue of the board budgeted for that fiscal year; and
(2) the principal of and interest on board obligations other than expense warrants to be paid from the revenue of the board during that fiscal year.
(1) the revenue of the board budgeted for that fiscal year; and
(2) the principal of and interest on board obligations other than expense warrants to be paid from the revenue of the board during that fiscal year.
Status: in_force · Read it on the official government site
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