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Enrolled Bill Summary

Enrolled Bill Summary

Legislative Session: 80(R)

Senate Bill 1074

Senate Author:  Wentworth

Effective:  5-14-07

House Sponsor:  Corte, Frank

            Senate Bill 1074 amends provisions of the Transportation Code relating to the issuance of short-term bonds by a metropolitan rapid transit authority.  The bill provides that in an authority created before 1980 in which the principal municipality has a population of less than 1.2 million, bonds may have a term of not more than 10 years and are payable only from fee revenue received on or after the date the bonds are issued.