81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85 Page: 62 of 126
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S.B. No. 1540
1 mant abandon a district rail line for which state money has been
2 loaned or granted unless the abandonment is approved by the
3 com iasion as being consistent with the policies of this chapter.
4 :i'i b) The commission by rule shall adopt procedures for
5 ap~Yin for and obtainin approval for abandonment under this
6 se tion. (V.A.C.S. Art. 65 Oc, Sec. 5(r).)
" [Sections 172.211-172.250 reserved for expansion)
8 " SUBCHAPTER F. FINANCIAL PROVISIONS
9 : e6. 172.251. FISCAL YEAR. (a) Unless the board changes
10 the fiscal year, the district's fiscal year ends on September 30.
11 (b) The board may not change the fiscal year more than once
12 ina three-year period. (V.A.C.S. Art. 6550c, Sec. 5(p) (part).)
13 Sec. 172.252. ANNUAL BUDGET. (a) Before beginning the
14 operation of rail facilities, the board shall adopt an annual
15 operating budget specifying the district's anticipated revenue and
16 expenses for the remainder of the fiscal year. The district shall
17 adopt an operating budget for each succeeding fiscal year.
18 i (b) The board must hold a public hearing before adopting
19 each budget except the initial budget. Notice of the hearing must
20 be published at least seven days before the date of the hearing in a
21 newspaper of general circulation in the district.
22 i c) A budget may be amended at any time if notice of the
23 proposed amendment is given in the notice of meeting.
24 (d) An expenditure that is not budgeted may not be made.
25 (V.A.C.S. Art ' 6550c, Sec. 5(p) (part).)
26 1~~ Sec. 172.253. GRANTS AND LOANS. A district may accept a
27 grant or loan from the United States, this state and its agencies
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Texas. Legislature. Senate. 81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85, legislative document, May 20, 2009; [Austin, Texas]. (texashistory.unt.edu/ark:/67531/metapth310917/m1/62/: accessed June 26, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.