CHAPTER 1479. COUNTY BONDS FOR FACILITIES ON STATE HIGHWAY SYSTEM - Texas Statutes

GOVERNMENT CODE

TITLE 9. PUBLIC SECURITIES

SUBTITLE I. SPECIFIC AUTHORITY FOR COUNTIES TO ISSUE SECURITIES

CHAPTER 1479. COUNTY BONDS FOR FACILITIES ON

STATE HIGHWAY SYSTEM

Sec. 1479.001. DEFINITION. In this chapter, "state highway

system" means the highways in this state included in the plan

providing for a system of state highways prepared under Section

201.103, Transportation Code.

Added by Acts 2005, 79th Leg., Ch.

281, Sec. 2.91, eff. June 14, 2005.

Sec. 1479.002. AUTHORITY TO ISSUE BONDS. (a) A county may

issue bonds to provide funds for the design, development,

financing, construction, maintenance, operation, extension,

expansion, or improvement of a toll or nontoll project or

facility on the state highway system located in the county or, as

a continuation of the project or facility, in an adjacent county.

(b) To provide for the payment of bonds issued under this

section, a county may:

(1) pledge revenue from any available source, including payments

received under an agreement with the Texas Department of

Transportation under Section 222.104, Transportation Code;

(2) pledge, levy, and collect taxes subject to any

constitutional limitation; or

(3) provide for a combination of Subdivisions (1) and (2).

(c) Any election required to permit action under Subsection (b)

must be held in conformance with the Election Code or other law

applicable to the county.

(d) A county that issues bonds under this section may exercise

any of the rights and powers granted to the governing body of an

issuer under Chapter 1371.

(e) A bond issued under this section must mature not later than

40 years after its date of issuance.

(f) This section is wholly sufficient authority for the issuance

of bonds, the pledge of revenues, taxes, or any combination of

revenues and taxes, and the performance of other acts and

procedures authorized by this section by a county without

reference to any other provision of law or any restriction or

limitation contained in those provisions, except as specifically

provided by this section. To the extent of any conflict or

inconsistency between this section and any other law, this

section shall prevail and control. A county may use any law not

in conflict with this section to the extent convenient or

necessary to carry out any power or authority, expressed or

implied, granted by this section.

Added by Acts 2005, 79th Leg., Ch.

281, Sec. 2.91, eff. June 14, 2005.