TO: | Honorable Larry Phillips, Chair, House Committee on Transportation |
FROM: | John S O'Brien, Director, Legislative Budget Board |
IN RE: | HB2396 by McClendon (Relating to the issuance of bonds by an advanced transportation district.), As Introduced |
The bill would amend the Transportation Code to authorize an advanced transportation district created under Subchapter O to issue bonds without holding an election to authorize the action.
The governing body of the district would be authorized to use the proceeds for a debt service requirement, capitalized interest, reserve fund requirement, credit agreement, administrative cost, or other bond-related cost incurred by or relating to the issuance of obligations by the district relating to the purchase, design, construction, reconstruction, alteration, financing, and maintenance of advanced transportation facilities, equipment, operations, systems, and services, including a feasibility study, operation, or professional or other service in connection with the facilities.
Source Agencies: |
LBB Staff: | JOB, KJG, TP
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