Texas Transportation Code
§ 370.111 — TRANSPORTATION REVENUE BONDS
TN § 370.111Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 370. REGIONAL MOBILITY AUTHORITIES · Art. D. TRANSPORTATION PROJECT FINANCING
Statute text
View on source(a)An authority, by bond resolution, may authorize the issuance of bonds to pay all or part of the cost of a transportation project, to refund any bonds previously issued for the transportation project, or to pay for all or part of the cost of a transportation project that will become a part of another system.
(b)As determined in the bond resolution, the bonds of each issue shall:
(1)be dated;
(2)bear interest at the rate or rates provided by the bond resolution and beginning on the dates provided by the bond resolution and as authorized by law, or bear no interest;
(3)mature at the time or times provided by the bond resolution, not exceeding 40 years from their date or dates; and
(4)be made redeemable before maturity at the price or prices and under the terms provided by the bond resolution.
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Legislative history
Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff. June 21, 2003.