Texas § TN.366.003 - DEFINITIONS

§ TN.366.003. DEFINITIONS

DEFINITIONS. In this chapter: (1) "Authority" means a regional tollway authority organized under this chapter. (2) "Board" means the board of directors of an authority organized under this chapter. (3) "Bond" means all bonds, certificates, notes, and other obligations of an authority authorized by this chapter, any other statute, or the Texas Constitution. (4) "Bond proceedings" means a bond resolution and any bond indenture authorized by the bond resolution, any credit agreement entered into in connection with the bonds or the payments to be made under the agreement, and any other agreement between an authority and another person providing security for the payment of bonds. (5) "Bond resolution" means an order or resolution of an authority's board authorizing the issuance of bonds. (6) "Bondholder" means the owner of bonds and includes a trustee acting on behalf of an owner of bonds under the terms of a bond indenture. (7) "Highway" means a road, highway, farm-to-market road, or street under the supervision of the state or a political subdivision of the state. (8) "Local governmental entity" means a political subdivision of the state, including a municipality or a county, a political subdivision of a county, a group of adjoining counties, a district organized or operating under Section 52 , Article III, or Section 59 , Article XVI, Texas Constitution, or a nonprofit corporation, including a transportation corporation created under Chapter 431 . (9) "Revenue" means the tolls, rents, and other money received by an authority from the ownership or operation of a turnpike project. (9-a) "Surplus revenue" means the revenue of a turnpike project or system remaining at the end of any fiscal year after all required payments and deposits have been made in accordance with all bond resolutions, trust agreements, indentures, credit agreements, or other instruments and contractual obligations of the authority payable from the revenue of the turnpike project or system. (10) "System" means a turnpike project or any combination of turnpike projects designated as a system by the board under Section 366.034 . (10-a) "Toll assessment facility" means a location on a turnpike project where a vehicle that is driven or towed through the facility is assessed a toll for the use of the project. (11) "Turnpike project" means a highway of any number of lanes, with or without grade separations, owned or operated by an authority under this chapter and any improvement, extension, or expansion to that highway, including: (A) an improvement to relieve traffic congestion and promote safety; (B) a bridge, tunnel, overpass, underpass, interchange, service road, ramp, entrance plaza, approach, or tollhouse; (C) an administration, storage, or other building the authority considers necessary to operate the turnpike project; (D) a parking area or structure, rest stop, park, and other improvement or amenity the authority considers necessary, useful, or beneficial for the operation of a turnpike project; and (E) property rights, easements, and interests the authority acquires to construct or operate the turnpike project. Added by Acts 1997, 75th Leg., ch. 1171, Sec. 7.24, eff. Sept. 1, 1997. Amended by: Acts 2007, 80th Leg., R.S., Ch. 264 (S.B. 792 ), Sec. 9.01, eff. June 11, 2007. Acts 2011, 82nd Leg., R.S., Ch. 1216 (S.B. 469 ), Sec. 1, eff. September 1, 2011.