Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 454.028 - Obligation of Transportation System Not Municipal Debt(a) An obligation of a mass transportation system: (1) is not a debt of the municipality;(2) is solely a charge on the property, including the pledged revenue, of the encumbered system; and(3) may not be included in determining the power of the municipality to issue any bonds or notes for any purpose authorized by law.(b) A municipality may make payments on bonds or notes issued under this chapter out of any other funds that lawfully may be used for that purpose.Tex. Transp. Code § 454.028
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.