Sec. 457.257. PLEDGE OF REVENUE LIMITED. The expenses of operation and maintenance of a transit authority system, including salaries, labor, materials, and repairs necessary to provide efficient service and every other proper item of expense, are a first lien and charge against any revenue of an authority that is encumbered under this chapter.
Added by Acts 1997, 75th Leg., ch. 165, Sec. 30.35(a), eff. Sept. 1, 1997.
Structure Texas Statutes
Subtitle K - Mass Transportation
Chapter 457 - County Mass Transit Authority
Section 457.251. Power to Issue Bonds
Section 457.254. Approval; Registration
Section 457.255. Incontestability
Section 457.256. Security Pledged
Section 457.257. Pledge of Revenue Limited
Section 457.258. Refunding Bonds