Texas Transportation Code

§ 365.041 — AMOUNT OF TOLLS

TN § 365.041Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 365. ROAD DISTRICT TOLL ROADS · Art. C. FINANCIAL PROVISIONS

Statute text

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Revenue from tolls and other charges under Section 365.040 may be sufficient to:

(1)pay all expenses necessary to maintain and operate the toll road project;

(2)make necessary payments and otherwise comply with any permit or franchise for maintenance or operation of the toll road project;

(3)pay the principal and redemption price of and interest on all bonds that the district is obligated to pay, regardless of whether the bonds were issued as revenue bonds;

(4)pay all sinking fund or reserve fund payments agreed to be made in connection with bonds or other obligations as they become due and payable to establish a reasonable depreciation and emergency fund;

(5)comply with any agreement made with the holders of the district's bonds or other obligations or with another person on the bondholder's behalf; and

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Legislative history

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