| Issue Date: | 2003-09-15 |
|---|---|
| Revised Date: | 2021-12-16 |
Legal Cites
- Transportation Code sec. 201.963
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 are 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 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 |
Administering Agencies
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.