Sec. 451.139. ISSUANCE OF BONDS FOR SELF-INSURANCE OR RETIREMENT OR PENSION FUND RESERVES. (a) An authority may issue bonds only in an amount necessary for managing or funding retiree pension benefit obligations for pension plans existing as of January 1, 2011, and that result from the competitive bidding of transit services required by Section 451.137.
(b) Section 451.352(c) does not apply to bonds described by Subsection (a).
Added by Acts 2011, 82nd Leg., R.S., Ch. 1327 (S.B. 650), Sec. 1, eff. June 17, 2011.
Structure Texas Statutes
Subtitle K - Mass Transportation
Chapter 451 - Metropolitan Rapid Transit Authorities
Subchapter C. -1. Additional Management Provisions for Certain Authorities
Section 451.131. Applicability
Section 451.132. Five-Year Capital Improvement Plan
Section 451.133. Operating Expenses and Capital Expenditures
Section 451.134. Operating Reserve Account
Section 451.135. Strategic Plan
Section 451.136. Rail Safety Plan and Reports
Section 451.137. Competitive Bids for and Purchase of Transit Services
Section 451.138. Public Involvement Policy
Section 451.139. Issuance of Bonds for Self-Insurance or Retirement or Pension Fund Reserves