Section 54.154 - Terms of Issuance of Revenue Refunding Obligations(a) Revenue refunding obligations may:(1) be combined with new or original revenue obligations into one series or issue;(2) be issued to refund obligations of more than one series or issue;(3) combine the pledges securing the obligations to be refunded to secure the revenue refunding obligations; or(4) be secured by a pledge of other or additional net revenue.(b) A revenue refunding obligation may bear interest at a rate higher than that of the obligation to be refunded.Tex. Transp. Code § 54.154
Added by Acts 1999, 76th Leg., ch. 227, Sec. 20, eff. Sept. 1, 1999.