Texas Transportation Code

§ 366.114 — EFFECT OF LIEN

TN § 366.114Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 366. REGIONAL TOLLWAY AUTHORITIES · Art. D. TURNPIKE FINANCING

Statute text

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(a)A lien on or a pledge of revenue from a turnpike project or system under this chapter or on a reserve, replacement, or other fund established in connection with a bond issued under this chapter:

(1)is enforceable at the time of payment for and delivery of the bond;

(2)applies to an item on hand or subsequently received;

(3)applies without physical delivery of an item or other act; and

(4)is enforceable against any person having any claim, in tort, contract, or other remedy, against the applicable authority without regard to whether the person has notice of the lien or pledge.

(b)A bond resolution is not required to be recorded except in the regular records of the authority.

Legislative history

Added by Acts 1997, 75th Leg., ch. 1171, Sec. 7.24, eff. Sept. 1, 1997.