Tex. Transportation Code § 54.154
This is the official text of Tex. Transportation Code § 54.154, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 54.154. TERMS OF ISSUANCE OF REVENUE REFUNDING OBLIGATIONS.
Official statutory text
(a) Revenue refunding obligations may:
(1) be combined with new or original revenue obligations into one series or issue;
(2) be issued to refund obligations of more than one series or issue;
(3) combine the pledges securing the obligations to be refunded to secure the revenue refunding obligations; or
(4) be secured by a pledge of other or additional net revenue.
(b) A revenue refunding obligation may bear interest at a rate higher than that of the obligation to be refunded.
(1) be combined with new or original revenue obligations into one series or issue;
(2) be issued to refund obligations of more than one series or issue;
(3) combine the pledges securing the obligations to be refunded to secure the revenue refunding obligations; or
(4) be secured by a pledge of other or additional net revenue.
(b) A revenue refunding obligation may bear interest at a rate higher than that of the obligation to be refunded.
Status: in_force · Read it on the official government site
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