Tex. Transportation Code § 365.041: AMOUNT OF TOLLS.
Where this section sits in the code
- TRANSPORTATION CODE
- TITLE 6. ROADWAYS
- SUBTITLE G. TURNPIKES AND TOLL PROJECTS
- CHAPTER 365. ROAD DISTRICT TOLL ROADS
- SUBCHAPTER C. FINANCIAL PROVISIONS
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.
Collected 2026-08-27T01:47:44Z. Source file · JSON