Texas Transportation Code - Section 54.104. Authority Of Board To Issue Obligations
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§ 54.104. AUTHORITY OF BOARD TO ISSUE OBLIGATIONS. (a) A
board by resolution may issue in the name of the board, with the
consent of the governing body of the municipality:
(1) obligations payable from revenue in the manner
provided by this chapter to provide money for a port improvement or
facility or to refund previously issued obligations;
(2) expense warrants drawn against the revenue of the
board to pay expenses during the fiscal year of the board in which
the warrants are issued; or
(3) certificates of participation in contractual
obligations to pay money.
(b) Notwithstanding any other provision of this chapter, a
board may issue obligations only if the governing body of the
municipality by ordinance approves the issuance.
Added by Acts 1999, 76th Leg., ch. 227, § 20, eff. Sept. 1, 1999.
Section: 54.052 54.053 54.054 54.055 54.101 54.102 54.103 54.104 54.105 54.106 54.107 54.108 54.109 54.110 54.111
Last modified: August 10, 2007
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