Tex. Transp. Code § 454.026
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
In addition to encumbering the property of a mass transportation system under Section 454.025, a municipality, by the terms of an instrument evidencing that encumbrance, may grant to the purchaser under the power of sale in the instrument a franchise to operate the system and the system's property. A franchise under this section may not exceed 25 years.
Tex. Transp. Code § 454.026