Sec. 452.660. ADDITIONAL COMPUTATIONS FOR CERTAIN AUTHORITIES. (a) In addition to the amount determined under Sections 452.659(a)(1) and (2), the total financial obligations of a unit of election withdrawn from an authority consisting of one subregion governed by a subregional board created under Subchapter O include the amount of the cost incurred by the authority for any capital improvements transferred to the unit of election under Section 452.657(c), less the unit of election's share of the total amount of the unencumbered assets of the authority that consist of cash, cash deposits, certificates of deposit, and bonds, stocks, and other negotiable securities.
(b) The unit of election's share of the unencumbered assets of the authority under Subsection (a) is determined by the subregional board as an amount equal to the authority's total unencumbered assets described by Subsection (a), multiplied by the average of:
(1) the number of inhabitants of the unit of election divided by the number of inhabitants of all units of election of the authority; and
(2) the total sales tax contributed by the unit of election to the authority divided by the total sales tax contributed to the authority by all units of election of the authority.
(c) The number of inhabitants is determined as provided by Section 452.559(d).
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Subtitle K - Mass Transportation
Chapter 452 - Regional Transportation Authorities
Subchapter Q. Withdrawal of Territory From Authority; Dissolution
Section 452.651. Withdrawal of Unit of Election
Section 452.652. Petition for Withdrawal Election
Section 452.653. Review of Petition
Section 452.654. Invalid Petition
Section 452.656. Result of Withdrawal Election
Section 452.657. Effect of Withdrawal
Section 452.658. Collection of Sales and Use Tax After Withdrawal
Section 452.659. Determination of Total Amount of Financial Obligations of Withdrawn Unit
Section 452.660. Additional Computations for Certain Authorities
Section 452.661. Certification of Net Financial Obligation of Unit
Section 452.662. Dissolution of Authority Created by Contiguous Municipality