 |
Texas Statutes (Last Updated: January 4, 2014) |
 |
TRANSPORTATION CODE |
|
Title 6. ROADWAYS |
|
Subtitle G. TURNPIKES AND TOLL PROJECTS |
|
Chapter 370. REGIONAL MOBILITY AUTHORITIES |
|
Subchapter D. TRANSPORTATION PROJECT FINANCING |
Sec. 370.114. EFFECT OF LIEN
-
(a) A lien on or a pledge of revenue from a transportation project under this chapter or on a reserve, replacement, or other fund established in connection with a bond issued under this chapter or a contract or agreement entered into under this chapter:
(1) is enforceable at the time of payment for and delivery of the bond or on the effective date of the contract or agreement;
(2) applies to each item on hand or subsequently received;
(3) applies without physical delivery of an item or other act; and
(4) is enforceable against any person having a claim, in tort, contract, or other remedy, against the applicable authority without regard to whether the person has notice of the lien or pledge.
(b) A copy of any bond resolution shall be maintained in the regular records of the authority.