Texas Transportation Code
§ 370.173 — AUTHORITY REVOLVING FUND
TN § 370.173Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 370. REGIONAL MOBILITY AUTHORITIES · Art. E. ACQUISITION, CONSTRUCTION, AND OPERATION OF TRANSPORTATION 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 transportation project if the transfer does not diminish the money available for the project to less than any amount required to be retained by the bond proceedings pertaining to the project;
(2)money received by the authority from any source and not otherwise committed, including money from the transfer of a transportation 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, another political subdivision of this state, a foreign governmental entity, including the United Mexican States or a state of the United Mexican States, a local government, any private enterprise, or any person.
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Legislative history
Acts 2011, 82nd Leg., R.S., Ch. 1279 (H.B. 1112), Sec. 10, eff. June 17, 2011.