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


Revenue refunding obligations may:


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


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


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


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


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.
Last accessed
Oct. 14, 2020