Sec. 452.358. USE OF REVENUE. Revenue in excess of amounts pledged under Section 452.357(a)(1) or (2) shall be used to:
(1) pay the expenses of operation and maintenance of a public transportation system, including salaries, labor, materials, and repairs necessary to provide efficient service and every other proper item of expense; and
(2) fund operating reserves.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 47 (S.B. 293), Sec. 2, eff. May 19, 2009.
Structure Texas Statutes
Subtitle K - Mass Transportation
Chapter 452 - Regional Transportation Authorities
Section 452.352. Power to Issue Bonds
Section 452.355. Approval; Registration
Section 452.356. Incontestability
Section 452.357. Security Pledged
Section 452.358. Use of Revenue
Section 452.359. Refunding Bonds
Section 452.360. Bonds as Authorized Investments
Section 452.361. Exchange of Bonds for Existing System
Section 452.362. Election to Pledge Taxes
Section 452.363. Alternate Election Procedures for Certain Authorities