Texas Transportation Code

§ 460.608 — ACCOUNTING OF MAINTENANCE AND OPERATING EXPENSES

TN § 460.608Title 6. ROADWAYS · Part K. MASS TRANSPORTATION · Ch. 460. COORDINATED COUNTY TRANSPORTATION AUTHORITIES · Art. I. PARTICIPATION IN AUTHORITY THROUGH TAX INCREMENT PAYMENTS

Statute text

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An authority shall, under an agreement under Section 460.602:

(1)provide to the municipality an annual accounting, with supporting documentation, of the annual maintenance and operating expenses of providing service to the public transportation financing area; and

(2)notify the municipality when amounts owed for all previous years' maintenance and operating expenses and for any capital cost incurred for the benefit of the public transportation financing area have been fully paid.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 921 (S.B. 1422), Sec. 4, eff. September 1, 2011.