Texas Transportation Code - Section 91.072. Financing Of Rail Facilities And Systems
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§ 91.072. FINANCING OF RAIL FACILITIES AND SYSTEMS. (a)
The commission and the department have the same powers and duties
relating to the financing of a rail facility or a system established
under Section 91.031 as the commission and the department have
under Subchapter E, Chapter 361, relating to the financing of a
turnpike project, including the ability to deposit the proceeds of
bonds or other obligations and to pledge, encumber, and expend such
proceeds and revenues as provided in Chapter 361.
(b) The powers held by the commission and the department
include the power to:
(1) authorize the issuance of bonds to pay all or part
of the cost of acquiring, constructing, maintaining, or operating a
rail facility or system;
(2) maintain separate accounts for bond proceeds and
the revenues of a rail facility or system, and pledge those revenues
and proceeds to the payment of bonds or other obligations issued or
entered into with respect to the facility or system;
(3) impose fees, rents, and other charges for the use
of a rail facility or system; and
(4) obtain from another source the fees and other
revenue necessary to pay all or part of the principal and interest
on bonds issued under this chapter.
(c) For purposes of this section, a reference in Subchapter
E, Chapter 361 to:
(1) a turnpike project means a rail facility or
system; and
(2) revenue includes a fee, rent, or other usage
charge established under this chapter or other money received under
Sections 91.073 and 91.074.
Added by Acts 2003, 78th Leg., ch. 1325, § 4.01, eff. June 21,
2003.
Section: 91.0361 91.037 91.051 91.052 91.053 91.054 91.071 91.072 91.073 91.074 91.075 91.091 91.092 91.093 91.094
Last modified: August 10, 2007
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