Tex. Transp. Code Section 463.203
Bond Terms

(a)

An authority’s bonds are fully negotiable. An authority may make the bonds redeemable before maturity at the price and subject to the terms that are provided in the authority’s resolution authorizing the bonds. The authority’s resolution authorizing the bonds may contain any other terms the executive committee considers appropriate.

(b)

A bond issued under this subchapter is not a debt or pledge of the faith and credit of the state, a political subdivision included in the boundaries of the authority, or any other political subdivision of the state.

(c)

Each bond issued by an authority under this subchapter must contain on its face a statement substantially to the effect that:

(1)

the state, a political subdivision included in the boundaries of the authority, or any other political subdivision of the state is not obligated to pay the principal of or the interest on the bond; and

(2)

the faith and credit and taxing power of the state, a political subdivision included in the boundaries of the authority, or any other political subdivision of the state are not pledged to the payment of the principal of or the interest on the bond.
Added by Acts 2019, 86th Leg., R.S., Ch. 151 (H.B. 71), Sec. 1, eff. May 24, 2019.

Source: Section 463.203 — Bond Terms, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­463.­htm#463.­203 (accessed Jun. 5, 2024).

463.001
Definitions 463.002
Application 463.003
Municipalities May Provide Transportation Services 463.051
Powers Applicable to Confirmed Authority 463.052
Nature of Authority 463.053
Responsibility for Control of Authority 463.054
General Powers of Authority 463.055
Contracts 463.056
Operation of Public Transportation System 463.057
Acquisition of Property by Agreement 463.058
Use and Acquisition of Property of Others 463.059
Eminent Domain Proceedings 463.060
Agreement with Utilities 463.061
Fares and Other Charges 463.062
Enforcement of Fares and Other Charges 463.063
Fare Enforcement Officers 463.064
Enforcement of High Occupancy Vehicle Lane Usage 463.065
Insurance 463.066
Tax Exemption 463.067
Continuation of Existing Rail Use 463.068
Elections 463.069
Additional Fee 463.101
Powers and Authority of Executive Committee 463.102
Investments 463.103
Depository 463.104
Chief Executive Officer: Duties 463.105
Rules 463.106
Purchases: Competitive Bidding 463.107
Duration of Contracts 463.108
Security 463.109
Budget Recommendations 463.110
Financial Audits 463.151
Station or Terminal Complex: System Plan 463.152
Station or Terminal Complex: Facilities 463.153
Station or Terminal Complex: Location 463.154
Transfer of Real Property in Station or Terminal Complex 463.201
Definition 463.202
Power to Issue Bonds 463.203
Bond Terms 463.204
Sale 463.205
Approval 463.206
Incontestability 463.207
Security Pledged 463.208
Use of Revenue 463.209
Refunding Bonds 463.210
Bonds as Authorized Investments 463.211
Exchange of Bonds for Existing System 463.212
Tax Exemption 463.251
Composition 463.252
Officers 463.253
Conflicts of Interest 463.254
Meetings 463.255
Voting Requirements 463.301
Creation of Authority Authorized 463.302
Initiating Order or Resolution: Contents 463.303
Notice of Hearing 463.304
Conduct of Hearing 463.305
Resolution or Order 463.306
Interim Executive Committee 463.307
Approval of Service Plan 463.308
Notice of Intent to Call Election 463.309
Confirmation Election 463.310
Conduct of Election 463.311
Results of Election 463.312
Effect of Creation on Commuter Rail District 463.313
Cost of Election 463.314
Expiration of Unconfirmed Authority 463.1055
Procurement Rules 463.1535
Approval of Municipality
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Accessed:
Jun. 5, 2024

§ 463.203’s source at texas​.gov