{"data":{"id":"us-tx/tex.-transportation-code-460.506","jurisdiction":"us-tx","citation":"Tex. Transportation Code § 460.506","heading":"SECURITY PLEDGED.","body":"To secure the payment of an authority's bonds, the authority may:\n(1) pledge all or part of revenue realized from any tax that is approved and levied;\n(2) pledge any part of the revenue of the public transportation system;\n(3) mortgage any part of the public transportation system regardless of when acquired; or\n(4) pledge government grants, contractual revenue, or lease revenue.\nAdded by Acts 2001, 77th Leg., ch. 1186, Sec. 1, eff. Sept. 1, 2001. Amended by Acts 2003, 78th Leg., ch. 306, Sec. 10, eff. Sept. 1, 2003.\nAmended by:\nActs 2009, 81st Leg., R.S., Ch. 557 (S.B. 1876), Sec. 2, eff. September 1, 2009.\nActs 2009, 81st Leg., R.S., Ch. 928 (H.B. 3070), Sec. 2, eff. September 1, 2009.","path":["TRANSPORTATION CODE","TITLE 6. ROADWAYS","SUBTITLE K. MASS TRANSPORTATION","CHAPTER 460. COORDINATED COUNTY TRANSPORTATION AUTHORITIES","SUBCHAPTER G. BONDS AND NOTES"],"source_url":"https://statutes.capitol.texas.gov/Docs/TN/htm/TN.460.htm#460.506","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:44Z","sha256":"1e514d225994a44c8549940d4ad7e19fbb04d0250cf6a1d20f9070202d54187a","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-transportation-code-460.505","next":"us-tx/tex.-transportation-code-460.507"},"notice":"GroundRules: Original legal text. Not legal advice."}