Texas Transportation Code

§ 364.050 — TRUST INDENTURE

TN § 364.050Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 364. TOLL BRIDGES IN COUNTIES BORDERING THE RIO GRANDE · Art. C. BONDS AND FINANCES

Statute text

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(a)Bonds issued under this chapter may be secured by a trust indenture between the county and a corporate trustee that is a trust company or a bank that has the powers of a trust company.

(b)The trust indenture may:

(1)pledge or assign the tolls, charges, and revenues from the operation of the toll bridge or bridges; or

(2)mortgage all or part of the toll bridge or bridges.

Legislative history

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.