Tex. Gov't Code § 1509.205 · Subchapter E. BONDS FOR ACQUISITION OF PROPERTY BY MUNICIPALITY OPERATING TOLL BRIDGE OVER RIO GRANDE
ADDITIONAL SECURITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Bonds issued under this subchapter may be additionally secured by:
(1) an encumbrance on any real property owned by the municipality;
(2) an encumbrance on any personal property appurtenant to that real property; or
(3) a pledge of any portion of a grant, donation, revenue, or income received or to be received from the United States or any other public or private source.
(b) The governing body of the municipality may authorize the execution of a trust indenture, mortgage, deed of trust, or other instrument as evidence of the encumbrance.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, 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.1509.htm
- Text hash
- sha256 58be41c167ea8c14617076425fe34956703aa34a886f0ca749a57c4d3e058c3d
- 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.