Texas Transportation Code

Sec. § 451.139
Issuance of Bonds for Self-insurance or Retirement or Pension Fund Reserves


(a)

An authority may issue bonds only in an amount necessary for managing or funding retiree pension benefit obligations for pension plans existing as of January 1, 2011, and that result from the competitive bidding of transit services required by Section 451.137 (Competitive Bids for and Purchase of Transit Services).

(b)

Section 451.352 (Power to Issue Bonds)(c) does not apply to bonds described by Subsection (a).
Added by Acts 2011, 82nd Leg., R.S., Ch. 1327 (S.B. 650), Sec. 1, eff. June 17, 2011.
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Last accessed
Jun. 7, 2021