Issue Date: 2003-09-15
Revised Date:

Legal Citations

Origin:

2003 by H.B. 471, H.J.R. 28 and HB 3318, 78th Leg., R.S.

Purpose

To receive the proceeds from the sale of highway tax and revenue anticipation notes issued to make up a temporary shortfall in the state highway fund's cash flow. Net proceeds shall be transferred to the state highway fund (0006) as necessary to pay authorized expenditures. Amounts in the fund may be pledged to secure payment of the notes and performance of obligations under credit agreements relating to the notes and may be used to pay issuance costs and required rebates to the federal government.
Classification Group 04: Pledged Funds [?]
Depository Interest Retained in appropriated fund.
Disposition of Balance Transferred to the State Highway Fund (0006) when all notes are paid
Appropriation Technique General Appropriations Act

Financial Activity

To view this appropriated fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:

Note

USAS Values

USAS Title HIGHWAY TAX & REV ANTICIPATION NOTE FD
Consolidated Fund
State Fund Group 04 - PLEDGED FUNDS
USAS Status A
Created by bond resolution requirements which specify the maintenance of separate funds to account for the bond program.