Texas Transportation Code
§ 463.202 — POWER TO ISSUE BONDS
TN § 463.202Title 6. ROADWAYS · Part K. MASS TRANSPORTATION · Ch. 463. REGIONAL TRANSIT AUTHORITIES · Art. E. BONDS
Statute text
View on source(a)An authority may issue bonds at any time and for any amounts it considers necessary or appropriate for:
(1)the acquisition, construction, repair, equipping, improvement, or extension of its public transportation system; or
(2)creating or funding self-insurance or retirement or pension fund reserves.
(b)An authority may exercise the powers granted to the governing body of an issuer in connection with the issuance of obligations and the execution of credit agreements under Chapter 1371, Government Code.
(c)A bond that has a maturity longer than five years from the date of issuance may not be issued by an authority until an election has been held and the proposition proposing the issue has been approved by a majority of the votes received on the issue.
(d)Subsection (c) does not apply to:
…
Legislative history
Added by Acts 2019, 86th Leg., R.S., Ch. 151 (H.B. 71), Sec. 1, eff. May 24, 2019.