Tex. Gov't Code § 1502.072 · Subchapter B. PUBLIC SECURITIES FOR UTILITY SYSTEMS, PARKS, OR POOLS
TRUSTEE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The proceedings adopted by the governing body of a municipality may provide for:
(1) the selection of a trustee to sell the encumbered facility on default in the payment of principal or interest under the contract;
(2) the selection of a successor trustee if the original trustee is disqualified or fails to act; and
(3) the collection by the trustee of a fee of not more than five percent of the principal.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Renumbered from Sec. 1502.073 and amended by Acts 1999, 76th Leg., ch. 1064, Sec. 22, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1502.htm
- Text hash
- sha256 3f9bfad819ad771231f3ed313287d8338c74dd9360acb08f456b5a0fe1e3712f
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.