Texas Transportation Code

§ 452.659 — DETERMINATION OF TOTAL AMOUNT OF FINANCIAL OBLIGATIONS OF WITHDRAWN UNIT

TN § 452.659Title 6. ROADWAYS · Part K. MASS TRANSPORTATION · Ch. 452. REGIONAL TRANSPORTATION AUTHORITIES · Art. Q. WITHDRAWAL OF TERRITORY FROM AUTHORITY; DISSOLUTION

Statute text

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(a)Except as provided by Section 452.660, the total financial obligation of a withdrawn unit of election to the authority is an amount equal to:

(1)the unit's apportioned share of the authority's outstanding obligations; and

(2)the amount, not computed in Subsection (a)(1), that is necessary and appropriate to allocate to the unit because of financial obligations of the authority that specifically relate to the unit.

(b)An authority's outstanding obligations under Subsection (a)(1) is the sum of:

(1)the obligations of the authority authorized in the budget of, and contracted for by, the authority;

(2)outstanding contractual obligations for capital or other expenditures, including expenditures for a subsequent year, the payment of which is not made or provided for from the proceeds of notes, bonds, or other obligations;

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Legislative history

Acts 2015, 84th Leg., R.S., Ch. 1122 (H.B. 3777), Sec. 11, eff. September 1, 2015.