Texas Transportation Code
§ 366.174 — AUTHORITY REVOLVING FUND
TN § 366.174Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 366. REGIONAL TOLLWAY AUTHORITIES · Art. E. ACQUISITION, CONSTRUCTION, AND OPERATION OF TURNPIKE PROJECTS
Statute text
View on source(a)An authority may maintain a revolving fund to be held in trust by a banking institution chosen by the authority separate from any other funds and administered by the authority's board.
(b)An authority may transfer into its revolving fund money from any permissible source, including:
(1)money from a turnpike project if the transfer does not diminish the money available for the project or the system, if any, of which it is a part to less than an amount required to be retained by the bond proceedings pertaining to the project or system;
(2)money received by the authority from any source and not otherwise committed, including money from the transfer of a turnpike project or system or sale of authority assets;
(3)money received from the state highway fund; and
(4)contributions, loans, grants, or assistance from the United States, another state, a political subdivision of this state, a foreign governmental entity, including the United Mexican States or a state of the United Mexican States, a local governmental entity, any private enterprise, or any person.
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Legislative history
Added by Acts 1997, 75th Leg., ch. 1171, Sec. 7.24, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1237, Sec. 5, eff. Nov. 6, 2001.