Texas Transportation Code
Sec. § 54.154
Terms of Issuance of Revenue Refunding Obligations


(a)

Revenue refunding obligations may:

(1)

be combined with new or original revenue obligations into one series or issue;

(2)

be issued to refund obligations of more than one series or issue;

(3)

combine the pledges securing the obligations to be refunded to secure the revenue refunding obligations; or

(4)

be secured by a pledge of other or additional net revenue.

(b)

A revenue refunding obligation may bear interest at a rate higher than that of the obligation to be refunded.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 20, eff. Sept. 1, 1999.
Source
Last accessed
Sep. 30, 2020