The board of an authority may by resolution authorize the use of surplus revenue of a turnpike project or system to pay the costs of another turnpike project or system other than a project financed under Subchapter G. The board may in the resolution prescribe terms for the use of the revenue, including the pledge of the revenue, but may not take an action under this section that violates, impairs, or is inconsistent with a bond resolution, trust agreement, or indenture governing the use of the surplus revenue.
Tex. Transp. Code § 366.175
USE OF SURPLUS REVENUE
Known as the Regional Tollway Authority Act
The act spans §§ 366.001–366.409 (74 sections).
Added by Acts 1997, 75th Leg., ch. 1171, Sec. 7.24, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.