Texas § TN.457.256 - SECURITY PLEDGED
Full text of Texas The Texas Constitution § TN.457.256 — SECURITY PLEDGED, with citation guidance and answers to common questions.
§ TN.457.256. SECURITY PLEDGED
SECURITY PLEDGED. (a) To secure the payment of an authority's bonds, the authority may: (1) pledge all or part of revenue received from any tax that the authority may impose; (2) pledge all or part of the revenue of the transit authority system; and (3) mortgage all or part of the transit authority system, including any part of the system subsequently acquired. (b) Under Subsection (a)(3), the authority may, subject to the terms of the bond indenture or resolution authorizing the issuance of the bonds, encumber a separate item of the transit authority system and acquire, use, hold, or contract for any property by lease, chattel mortgage, or other conditional sale, including an equipment trust transaction. Added by Acts 1997, 75th Leg., ch. 165, Sec. 30.35(a), eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § TN.457.256
What does The Texas Constitution § TN.457.256 cover?
Section TN.457.256 ("SECURITY PLEDGED") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § TN.457.256?
A common citation format is "The Texas Constitution § TN.457.256" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § TN.457.256 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.