{"data":{"id":"us-tx/tex.-transportation-code-460.508","jurisdiction":"us-tx","citation":"Tex. Transportation Code § 460.508","heading":"NOTES.","body":"(a) An authority may issue negotiable notes payable from any of the authority's sources of revenue to pay for any lawful expenditure, other than principal and interest on the authority's debt.\n(b) Notes issued by an authority shall be payable over a period not to exceed five years from the date of issuance.\n(c) The Texas Commission on Environmental Quality is not required to approve notes issued under this section.\n(d) An authority may not have outstanding notes in excess of $10 million at any one time.\nAdded by Acts 2001, 77th Leg., ch. 1186, Sec. 1, eff. Sept. 1, 2001. Amended by Acts 2003, 78th Leg., ch. 306, Sec. 12, eff. Sept. 1, 2003.\nAmended by:\nActs 2007, 80th Leg., R.S., Ch. 326 (H.B. 2682), Sec. 18, eff. September 1, 2007.","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#460.508","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:44Z","sha256":"6fd6f6dbb4ed06c483373b5553efb44b3fc4a1fbdb73bc065d95d31f192932ff","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-transportation-code-460.507","next":"us-tx/tex.-transportation-code-460.509"},"notice":"GroundRules: Original legal text. Not legal advice."}