Sec. 451.352. POWER TO ISSUE BONDS. (a) An authority may issue bonds at any time and for any amounts it considers necessary or appropriate for the acquisition, construction, repair, equipping, improvement, or extension of its transit authority system.
(b) The board, by resolution, may authorize the issuance of bonds payable solely from revenue.
(c) Bonds, any portion of which is payable from taxes, may not be issued until authorized by a majority of the votes received in an election ordered and held for that purpose.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Subtitle K - Mass Transportation
Chapter 451 - Metropolitan Rapid Transit Authorities
Section 451.352. Power to Issue Bonds
Section 451.355. Approval; Registration
Section 451.356. Incontestability
Section 451.357. Security Pledged
Section 451.358. Pledge of Revenue Limited
Section 451.359. Refunding Bonds
Section 451.360. Bonds as Authorized Investments
Section 451.361. Exchange of Bonds for Existing System
Section 451.362. Short-Term Bonds
Section 451.3625. Bonds for Rail System; Certain Authorities