Section 283.102 - Management of Project(a) A bond instrument may allow the project to be managed and controlled by a board of trustees while the bonds issued are outstanding.(b) The bond instrument in providing for a board of trustees must:(1) name no more than five board members;(2) provide the manner of appointment; and(3) specify the powers and duties of the board.Tex. Transp. Code § 283.102
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.