Section 452.111. Extraordinary Vote Required in Certain Authorities

TX Transp Code § 452.111 (2019) (N/A)
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Sec. 452.111. EXTRAORDINARY VOTE REQUIRED IN CERTAIN AUTHORITIES. A subregional board created under Subchapter O that governs an authority consisting of one subregion may not, except by a two-thirds vote of the board:

(1) issue any debt allowed by law;

(2) enter a lease as lessee or financing agreement as obligor if the lease or agreement is secured by the other assets of the authority;

(3) effect a major change as described by Section 452.303 in a service plan;

(4) approve the financial plan for the authority; or

(5) enter an agreement under Section 452.055(c).

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.