78th Texas Legislature, Regular Session, House Bill 3184, Chapter 312 Page: 23 of 56
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H.B. No. 3184
1 equipment, and electric line, and set the terms for the use, lease,
2 or sale.
3 (b) The tolls shall be set so that the aggregate of tolls
4 from the turnpike project:
5 (1) provides a fund sufficient with other revenue and
6 contributions, if any, to pay:
7 (A) the cost of maintaining, repairing, and
8 operating the project; and
9 (B) the principal of and interest on the bonds
10 issued for the project as those bonds become due and payable; and
11 (2) creates reserves for the purposes listed under
12 Subdivision (1).
13 (d) The tolls and other revenue derived from the turnpike
14 project for which bonds were issued, except the part necessary to
15 pay the cost of maintenance, repair, and operation and to provide
16 reserves for those costs as may be provided in the order
17 [-rec:luten] authorizing the issuance of the bonds or in the trust
18 agreement securing the bonds, shall be set aside at regular
19 intervals as may be provided in the order [rceeution] or trust
20 agreement in a sinking fund that is pledged to and charged with the
21 payment of:
22 (1) interest on the bonds as it becomes due;
23 (2) principal of the bonds as it becomes due;
24 (3) necessary charges of paying agents for paying
25 principal and interest; and
26 (4) the redemption price or the purchase price of
27 bonds retired by call or purchase as provided by the bonds.23
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Texas. Legislature. House of Representatives. 78th Texas Legislature, Regular Session, House Bill 3184, Chapter 312, legislative document, June 18, 2003; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth158600/m1/23/: accessed May 4, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.