(a) A transit department may issue revenue bonds at any time and for any amounts it considers necessary or appropriate for:
- (1) the acquisition, construction, repair, equipping, improvement, or extension of its transit system; or
- (2) the construction or general maintenance of streets of the creating municipality.
- (b) Bonds payable solely from revenues may be issued by resolution of the board.
- (c) Bonds, other than refunding bonds, any portion of which is payable from tax revenue, may not be issued until authorized by a majority vote of the voters of the municipality voting in an election.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.