§ 201.941 Definitions
§ 201.942 Administration of Fund
§ 201.943 Authority to Issue Obligations; Purposes; Limitations
§ 201.944 Pledge of State’s Full Faith and Credit
§ 201.945 Dedication of Revenue to Fund
§ 201.946 Investment and Uses of Money in Fund
§ 201.947 Strategic Plan
lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Texas Transportation Code Chapter 201 > Subchapter M - Obligations for Certain Highway and Mobility Projects

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • Year: means 12 consecutive months. See Texas Government Code 311.005