Texas Transportation Code

Sec. § 451.3625
Bonds for Rail System; Certain Authorities


(a)

This section applies only to an authority confirmed before July 1, 1985, in which the principal municipality has a population of less than 850,000.

(b)

An authority may not issue short-term debt under Section 451.362 (Short-term Bonds) or bonds secured by the revenue of the authority to finance any portion of the purchase, acquisition, construction, operation, or maintenance of a fixed rail transit system unless the system is approved at a referendum under Section 451.071 (Referendum for Rail Plan; Certain Authorities).

(c)

If a referendum is approved under Section 451.071 (Referendum for Rail Plan; Certain Authorities), the term for which short-term debt may be issued under Section 451.362 (Short-term Bonds) is increased to five years if the purpose of the debt is the purchase, acquisition, construction, operation, or maintenance of the fixed rail transit system approved at the referendum.
Added by Acts 1997, 75th Leg., ch. 472, Sec. 2, eff. Sept. 1, 1997.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1163 (H.B. 2702), Sec. 156, eff. September 1, 2011.
Source

Last accessed
Jun. 7, 2021