Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Government Code § 1371.052: TRANSPORTATION AUTHORITY OBLIGATION; ELECTION.

Where this section sits in the code

GOVERNMENT CODE
TITLE 9. PUBLIC SECURITIES
SUBTITLE F. SPECIFIC AUTHORITY FOR STATE OR LOCAL GOVERNMENT TO ISSUE SECURITIES
CHAPTER 1371. OBLIGATIONS FOR CERTAIN PUBLIC IMPROVEMENTS
SUBCHAPTER B. ISSUANCE AND APPROVAL OF OBLIGATION

(a) A transportation authority created, organized, and operating under Chapter 452, Transportation Code, may not issue an obligation, other than a refunding obligation, that is payable in whole or in part from its sales and use tax revenue and has a maturity longer than five years unless an election required by Section 452.352(b), Transportation Code, has been held and the proposition has been approved.

(b) An obligation that is exempt from the election requirement of Section 452.352(b), Transportation Code, by the terms of Chapter 452, Transportation Code, is also exempt from the election requirement of this section.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Collected 2026-08-27T01:47:16Z. Source file · JSON

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