Terms Used In Texas Transportation Code 365.041

  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005

Revenue from tolls and other charges under Section 365.040 may be sufficient to:
(1) pay all expenses necessary to maintain and operate the toll road project;
(2) make necessary payments and otherwise comply with any permit or franchise for maintenance or operation of the toll road project;
(3) pay the principal and redemption price of and interest on all bonds that the district is obligated to pay, regardless of whether the bonds were issued as revenue bonds;
(4) pay all sinking fund or reserve fund payments agreed to be made in connection with bonds or other obligations as they become due and payable to establish a reasonable depreciation and emergency fund;
(5) comply with any agreement made with the holders of the district’s bonds or other obligations or with another person on the bondholder’s behalf; and
(6) recover a reasonable rate of return on invested capital.