Sec. 228.107. EFFECT OF LIEN. (a) A lien on or a pledge of revenue, a contract payment, or a pledge of money to the payment of bonds issued under this subchapter is valid and effective in accordance with Chapter 1208, Government Code, and:
(1) is enforceable in any court at the time of payment for and delivery of the bond;
(2) applies to each item on hand or subsequently received;
(3) applies without physical delivery of an item or other act; and
(4) is enforceable in any court against any person having a claim, in tort, contract, or other remedy, against the commission or the department without regard to whether the person has notice of the lien or pledge.
(b) An order authorizing the issuance of bonds is not required to be recorded except in the regular records of the department.
Added by Acts 2003, 78th Leg., ch. 1325, Sec. 15.27, eff. June 21, 2003.
Transferred from Transportation Code, Section 361.1752 and amended by Acts 2005, 79th Leg., Ch. 281 (H.B. 2702), Sec. 2.42, eff. June 14, 2005.
Structure Texas Statutes
Subtitle B - State Highway System
Chapter 228 - State Highway Toll Projects
Subchapter C. Toll Revenue Bonds
Section 228.101. Construction Costs
Section 228.102. Issuance of Bonds
Section 228.103. Applicability of Other Law; Conflicts
Section 228.104. Payment of Bonds; Credit of State Not Pledged
Section 228.105. Sources of Payment of and Security for Toll Revenue Bonds
Section 228.106. Interim Bonds
Section 228.107. Effect of Lien
Section 228.108. Approval of Bonds by Attorney General
Section 228.109. Trust Agreement
Section 228.110. Provisions Protecting and Enforcing Rights and Remedies of Bondholders
Section 228.111. Furnishing of Indemnifying Bonds or Pledge of Securities
Section 228.112. Feasibility Study by Municipality, County, or Private Group
Section 228.115. Exemption From Taxation or Assessment
Section 228.116. Valuation of Bonds Securing Deposit of Public Funds