Texas Statutes (Last Updated: January 4, 2014) |
TRANSPORTATION CODE |
Title 6. ROADWAYS |
Subtitle G. TURNPIKES AND TOLL PROJECTS |
Chapter 367. MUNICIPAL TOLL BRIDGES OVER RIO GRANDE |
Subchapter B. ACQUIRING EXISTING BRIDGE; BUILDING REPLACEMENT OR ADDITIONAL BRIDGE |
Sec. 367.059. AUTHORITY TO ISSUE REVENUE BONDS
Latest version.
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(a) The governing body of a municipality may issue, sell, and deliver revenue bonds to accomplish the purposes of this subchapter. The municipality may use the bonds or the proceeds of the sale of the bonds to acquire all or part of a toll bridge under this subchapter or may exchange the bonds for property to accomplish the purposes of this subchapter.
(b) The governing body may issue the bonds and use a bond or bond proceeds as provided by this subchapter without:
(1) giving or publishing notice of the municipality's intent to take that action; or
(2) advertising or calling for competitive bids in connection with that action.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 25, eff. Sept. 1, 1999.