Tex. Transportation Code § 451.139

ISSUANCE OF BONDS FOR SELF-INSURANCE OR RETIREMENT OR PENSION FUND RESERVES

Texas · Texas Transportation Code · Status: effective

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Citation: Tex. Transportation Code § 451.139, ISSUANCE OF BONDS FOR SELF-INSURANCE OR RETIREMENT OR PENSION FUND RESERVES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/570686
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(a) An authority may issue bonds only in an amount necessary for managing or funding retiree pension benefit obligations for pension plans existing as of January 1, 2011, and that result from the competitive bidding of transit services required by Section 451.137. (b) Section 451.352(c) does not apply to bonds described by Subsection (a).