Tex. Transportation Code § 283.102: MANAGEMENT OF PROJECT.

(a) A bond instrument may allow the project to be managed and controlled by a board of trustees while the bonds issued are outstanding.

(b) The bond instrument in providing for a board of trustees must:

(1) name no more than five board members;

(2) provide the manner of appointment; and

(3) specify the powers and duties of the board.

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.