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Tex. Transp. Code § 460.506

SECURITY PLEDGED

Added by Acts 2001, 77th Leg., ch. 1186, Sec. 1, eff

To secure the payment of an authority's bonds, the authority may:

(1) pledge all or part of revenue realized from any tax that is approved and levied;

(2) pledge any part of the revenue of the public transportation system;

(3) mortgage any part of the public transportation system regardless of when acquired; or

(4) pledge government grants, contractual revenue, or lease revenue.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.