Sec. 431.1015. CORPORATIONS OF CERTAIN COUNTIES FOR TOLL PROJECTS. (a) Notwithstanding Chapter 284 or any other law, a county with a population of more than four million may not create a local government corporation under this chapter to develop, construct, operate, manage, or finance a toll project or system located in the county.
(b) An existing local government corporation created by a county described by Subsection (a) for the purposes described by that subsection:
(1) may not:
(A) undertake any new bonds, notes, or other obligations or extend the terms of any existing bonds, notes, or other obligations; or
(B) enter into any new contracts or extend the terms of any existing contracts; and
(2) must be dissolved when all bonds, notes, and other obligations and contracts of the corporation have been satisfied.
(c) This subsection and Subsection (b) expire on the date that the local government corporation described by Subsection (b) is dissolved.
(d) Notwithstanding any other provision of this chapter, income earned and revenues received by or from a local government corporation created to develop, construct, operate, manage, or finance a toll project or system under Chapter 284 may be used only to pay the costs of a turnpike project, as defined by Section 370.003, or a road, street, or highway project as provided for under Section 284.0031.
Added by Acts 2021, 87th Leg., R.S., Ch. 408 (S.B. 1727), Sec. 1, eff. June 7, 2021.
Structure Texas Statutes
Subtitle I - Transportation Corporations
Chapter 431 - Texas Transportation Corporation Act
Subchapter D. Local Government Corporations
Section 431.101. Creation of Local Government Corporation
Section 431.1015. Corporations of Certain Counties for Toll Projects
Section 431.102. Application of Chapter 394, Local Government Code
Section 431.103. Contracts With Political Subdivisions
Section 431.104. Assumption of Powers and Duties
Section 431.105. Contractual Authority
Section 431.106. Public Safety Rules
Section 431.107. Income of Local Government Corporation
Section 431.108. Governmental Functions
Section 431.109. Contracts for Historically Underutilized Businesses
Section 431.110. Competitive Bidding Exception for Certain Improvements