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Texas Statutes (Last Updated: January 4, 2014) |
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TRANSPORTATION CODE |
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Title 6. ROADWAYS |
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Subtitle G. TURNPIKES AND TOLL PROJECTS |
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Chapter 370. REGIONAL MOBILITY AUTHORITIES |
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Subchapter D. TRANSPORTATION PROJECT FINANCING |
Sec. 370.116. APPROVAL OF BONDS BY ATTORNEY GENERAL
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(a) An authority shall submit to the attorney general for examination the record of proceedings relating to bonds authorized under this chapter. The record shall include the bond proceedings and any contract securing or providing revenue for the payment of the bonds.
(b) If the attorney general determines that the bonds, the bond proceedings, and any supporting contract are authorized by law, the attorney general shall approve the bonds and deliver to the comptroller:
(1) a copy of the legal opinion of the attorney general stating the approval; and
(2) the record of proceedings relating to the authorization of the bonds.
(c) On receipt of the legal opinion of the attorney general and the record of proceedings relating to the authorization of the bonds, the comptroller shall register the record of proceedings.
(d) After approval by the attorney general, the bonds, the bond proceedings, and any supporting contract are valid, enforceable, and incontestable in any court or other forum for any reason and are binding obligations according to their terms for all purposes.