Voters authorized the creation of the Texas Mobility Fund (TMF) in 2001, establishing it within the treasury of the State of Texas, and authorizing the Texas Transportation Commission to administer it. As authorized by the voters, the Texas Legislature established the TMF to provide a method of financing the construction, reconstruction, acquisition, and expansion of state highways, including the costs of any necessary design and costs of acquisition of rights-of-way.
The TMF may also be used to provide participation by TxDOT in the payment of all or a portion of the costs of constructing and providing publicly-owned toll roads and other public transportation projects. Bonds and other obligations of the TMF issued to-date are secured by a first lien interest in certain revenues of the TMF, and they are also general obligations of the State secured by the full faith and credit of the State.
Therefore, should the revenue and money dedicated to and on deposit in the TMF be insufficient to make payments due on TMF bonds and other obligations, there is appropriated from the State Treasury an amount that is sufficient to make payments due on such bonds and other obligations. The maximum maturity for bonds in this program is 30 years.
Texas Mobility Fund Bond Series Currently Outstanding
1Rating was provided as part of the Series 2020 issuance.
2Series 2015-B was privately placed with a financial institution and does not have an Official Statement.
3Taxable Build America Bonds.
Each document contained in this section of the Commission website is marked with a Dated Date and speaks only as of that Dated Date. Except as otherwise disclosed in any Official Statement or other document, the Commission expressly disclaims any duty to update any document (or any portion of any document) contained in this section. The information and documents in this section are provided for informational purposes only, and must not be considered to be an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.