Sec. 370.114. EFFECT OF LIEN. (a) A lien on or a pledge of revenue from a transportation project under this chapter or on a reserve, replacement, or other fund established in connection with a bond issued under this chapter or a contract or agreement entered into under this chapter:
(1) is enforceable at the time of payment for and delivery of the bond or on the effective date of the contract or agreement;
(2) applies to each item on hand or subsequently received;
(3) applies without physical delivery of an item or other act; and
(4) is enforceable against any person having a claim, in tort, contract, or other remedy, against the applicable authority without regard to whether the person has notice of the lien or pledge.
(b) A copy of any bond resolution shall be maintained in the regular records of the authority.
Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff. June 21, 2003.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1279 (H.B. 1112), Sec. 8, eff. June 17, 2011.
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