Texas Transportation Code - Section 364.047. Additional Bonds
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Texas Laws > Transportation Code > Texas Transportation Code - Section 364.047. Additional Bonds
§ 364.047. ADDITIONAL BONDS. (a) A county that has
outstanding bonds payable from the revenue of a toll bridge or
bridges may issue additional bonds to the extent and under the
conditions prescribed by the provisions of the outstanding bonds
and the proceedings related to those bonds, including any trust
indenture securing those bonds. The additional bonds may be
secured by a pledge of and a lien on the net revenues of the bridge
or bridges on a parity with the outstanding bonds under the
conditions set out in the proceedings or trust indenture securing
and authorizing the outstanding bonds.
(b) A county that has acquired a toll bridge or bridges
under this chapter may, in the manner provided by this chapter for
the issuance of original bonds, issue and deliver subsequent bonds
to repair, improve, reconstruct, or replace a toll bridge. The
issuance of bonds under this subsection is subject to the
restrictions contained in the resolution or order of the
commissioners court authorizing the original bonds and in the deed
of indenture, if any, securing the issuance of the original issue of
bonds.
Acts 1995, 74th Leg., ch. 165, § 1, eff. Sept. 1, 1995.
Section: 364.024 364.041 364.042 364.043 364.044 364.045 364.046 364.047 364.048 364.049 364.050 364.051 364.052 364.053 364.054
Last modified: August 11, 2007
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