Tex. Transportation Code § 54.104
AUTHORITY OF BOARD TO ISSUE OBLIGATIONS
Texas · Texas Transportation Code · Status: effective
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- Citation
- Tex. Transportation Code § 54.104, AUTHORITY OF BOARD TO ISSUE OBLIGATIONS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/567604
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Full text
(a) A board by resolution may issue in the name of the board, with the consent of the governing body of the municipality:
(1) obligations payable from revenue in the manner provided by this chapter to provide money for a port improvement or facility or to refund previously issued obligations;
(2) expense warrants drawn against the revenue of the board to pay expenses during the fiscal year of the board in which the warrants are issued; or
(3) certificates of participation in contractual obligations to pay money.
(b) Notwithstanding any other provision of this chapter, a board may issue obligations only if the governing body of the municipality by ordinance approves the issuance.