Tex. Transp. Code Section 172.256
Nonnegotiable Purchase Money Notes; Bond Anticipation Notes

(a)

A district may:

(1)

issue nonnegotiable purchase money notes, payable in installments and secured by the property being acquired or constructed, to acquire or construct rail facilities; or

(2)

secure the obligation of the notes by a pledge or by issuing bonds, including bond anticipation notes.

(b)

A district may covenant with the purchaser of bond anticipation notes that the proceeds of one or more particular series of bonds will be used for the ultimate payment of the purchase money notes or bond anticipation notes.
Added by Acts 2009, 81st Leg., R.S., Ch. 85 (S.B. 1540), Sec. 2.04, eff. April 1, 2011.

Source: Section 172.256 — Nonnegotiable Purchase Money Notes; Bond Anticipation Notes, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­172.­htm#172.­256 (accessed Jun. 5, 2024).

172.001
Definitions 172.002
Nature of District 172.003
Findings 172.051
Applicability 172.052
Creation of District by More than One County 172.053
Creation of District by One County 172.054
Notice of Creation 172.055
Automatic Assumption of Contractual Obligations After Creation by Certain Districts 172.101
Control of District 172.102
Terms 172.103
Qualifications for Office 172.104
Vacancy 172.105
Removal 172.106
Officers 172.107
Meetings 172.108
Rules for Proceedings 172.109
Employees 172.110
Pecuniary Interest in Certain Contracts Prohibited 172.151
General Powers of District 172.152
Rules 172.153
Agreements Generally 172.154
Agreements with Other Entities for Joint Use 172.155
Joint Ownership Agreements 172.156
Awarding Construction or Purchase Contracts 172.157
Eminent Domain 172.158
Disposition of Surplus Property 172.159
Suits 172.160
Perpetual Succession 172.201
General Authority over Rail Facilities 172.202
Use and Alteration of Property of Another Political Subdivision 172.203
Rules Governing System 172.204
Acquisition of Property 172.205
Powers Relating to District Property 172.206
Acquisition of Rolling Stock and Other Property 172.207
Compensation for Use of System Facilities 172.208
Operation or Use Contracts 172.209
Rail Transportation Services Agreements with Other Political Subdivisions 172.210
Abandonment of Rail Line 172.211
Other Powers of County, District, and Navigation District 172.251
Fiscal Year 172.252
Annual Budget 172.253
Grants and Loans 172.254
Depository 172.255
Applicability of Public Property Financing Law 172.256
Nonnegotiable Purchase Money Notes 172.257
Tax Exemption 172.301
Revenue Bonds 172.302
Security for Payment of Bonds 172.303
Bonds as Authorized Investments and Security for Deposits of Public Funds 172.304
Applicability of Public Improvement Financing Law 172.305
Limit on Power 172.306
Exemption from Review of Notes by Attorney General 172.1571
Restoration of Certain Expired Eminent Domain Authority
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 172.256’s source at texas​.gov