Sec. 365.041. AMOUNT OF TOLLS. Revenue from tolls and other charges under Section 365.040 may be sufficient to:
(1) pay all expenses necessary to maintain and operate the toll road project;
(2) make necessary payments and otherwise comply with any permit or franchise for maintenance or operation of the toll road project;
(3) pay the principal and redemption price of and interest on all bonds that the district is obligated to pay, regardless of whether the bonds were issued as revenue bonds;
(4) pay all sinking fund or reserve fund payments agreed to be made in connection with bonds or other obligations as they become due and payable to establish a reasonable depreciation and emergency fund;
(5) comply with any agreement made with the holders of the district's bonds or other obligations or with another person on the bondholder's behalf; and
(6) recover a reasonable rate of return on invested capital.
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