Tex. Transp. Code § 284.069

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 284.069 - Tolls and Charges

If bonds under this chapter are payable in whole or in part from project revenue, the county shall impose tolls and charges that are, together with other money or revenues available for the project, including ad valorem tax, sufficient to:

(1) pay the maintenance and operating expenses of the project;

(2) pay the principal of, premium of, if any, and interest on the bonds when due;

(3) establish a reserve for payment of bond principal, premium, and interest; and

(4) establish an adequate fund for project depreciation and replacement.

Tex. Transp. Code § 284.069

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.