Tex. Transp. Code Section 454.026
Transportation System Franchise

In addition to encumbering the property of a mass transportation system under Section 454.025 (Encumbrance of Transportation System), a municipality, by the terms of an instrument evidencing that encumbrance, may grant to the purchaser under the power of sale in the instrument a franchise to operate the system and the system’s property. A franchise under this section may not exceed 25 years.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.

Source: Section 454.026 — Transportation System Franchise, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­454.­htm#454.­026 (accessed May 4, 2024).

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Accessed:
May 4, 2024

§ 454.026’s source at texas​.gov