Vote Recommendation | Economic Freedom | Property Rights | Personal Responsibility | Limited Government | Individual Liberty |
---|---|---|---|---|---|
No | Neutral | Neutral | Neutral | Negative | Neutral |
Under current law, the governing board of a rapid transit authority, except in certain circumstances, may only issue bonds that are secured by revenue or taxes. The bond may not have term lengths longer than 12 months and may only be payable from revenue or taxes received once the bond has been issued.
Senate Bill 1644 amends current Transportation Code by adding an exception so that governing board of any authority confirmed before July 1, 1985 that operates in a city that has a population of less than one million would have the ability to extend the limit on the term of a bond to no more than 15 years.