Sec. 365.038. COUNTY PAYMENTS RELATING TO DISTRICT BONDS. (a) A county in which a district is located may pay:
(1) part of the principal or redemption price of or interest on the district's bonds; or
(2) the cost of operating or maintaining the district's toll road project.
(b) The county may establish or maintain a reserve fund or a depreciation and replacement fund for the district's bonds or toll road project as a supplement to the district's pledge of revenue for those purposes or instead of a pledge of the district's revenue or taxes.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Section: Previous 365.014 365.015 365.031 365.032 365.033 365.034 365.035 365.036 365.037 365.038 365.039 365.040 365.041 365.042 365.043 NextLast modified: September 28, 2016