Texas Transportation Code 367.005 – Authority to Issue Revenue Bonds
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Terms Used In Texas Transportation Code 367.005
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: means real and personal property. See Texas Government Code 311.005
To provide money to acquire, construct, improve, enlarge, or equip a toll bridge, a part of a toll bridge, or a related building, structure, or other facility for a public purpose, the governing body of a municipality may issue revenue bonds that are payable from and secured by a lien on and pledge of all or any part of the revenue, income, or receipts the municipality receives from its ownership and operation of:
(1) a portion of a toll bridge over the Rio Grande; and
(2) any other property, building, structure, activity, or facility.