Tex.
Transp. Code Section 284.065
Pooled Projects
(a)
A commissioners court of a county by resolution may pool two or more projects the county constructs under this chapter.(b)
An existing project may be pooled in whole or in part with a new project or another existing project.(c)
A project may be pooled more than once.(d)
The resolution of the commissioners court establishing a pooled project shall set a date when each of the projects being pooled will be available for the free use of the public. The date must be consistent with the bond instrument applicable to bonds for any of the pooled projects.(e)
Subject to the terms of a bond instrument, a county proceeding under this chapter may, from time to time, issue bonds, including bonds that are payable either in whole or in part from the revenues of a pooled project, to:(1)
pay all or a part of the cost of the pooled project or the cost of a part of the pooled project;(2)
pay the costs of constructing improvements, extensions, or enlargements to all or part of a pooled project; or(3)
refund outstanding bonds issued for any part of a pooled project, including payment of a bond redemption premium and any interest to the date of redemption; and(4)
pay the cost of constructing improvements, extensions, and enlargements to any part of a pooled project for which any part of the bonds to be refunded were issued.(f)
Revenues of any part of a pooled project may be pledged to pay the bonds.(g)
Improvements, extensions, or enlargements to be paid from refunding bonds issued under this chapter may be constructed on any part of the pooled project without regard to the parts of the pooled project covered by the bonds to be refunded.(h)
The refunding bonds may be issued in exchange for outstanding bonds or may be sold and the proceeds used to redeem outstanding bonds.(i)
A county may, from time to time, amend the extent or component parts of a designated pooled project, consistent with the terms of related bond instruments.(j)
This chapter applies to a pooled project and an amended pooled project in the same manner that it applies to any other project.
Source:
Section 284.065 — Pooled Projects, https://statutes.capitol.texas.gov/Docs/TN/htm/TN.284.htm#284.065 (accessed Apr. 20, 2024).
