Tex. Gov't Code § 2306.411 · Subchapter S. HOUSING FINANCE DIVISION BONDS: SECURITY FOR BONDS
SECURITY FOR PAYMENT OF PRINCIPAL, INTEREST, AND REDEMPTION PREMIUM.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In addition to other security for the department's bonds authorized by this chapter, payment of the principal and interest and redemption premium, if any, on the department's bonds may be secured by a first or subordinate lien on and pledge of all or part of:
(1) the department's assets and real, personal, or mixed property, including:
(A) mortgages or other obligations securing the assets of property;
(B) investments; and
(C) trust agreements or trust indentures administered by one or more corporate trustees as allowed by the board; and
(2) the reserves or funds of the department.
(b) The form of a mortgage, trust agreement, or trust indenture securing department bonds must be authorized under the resolution authorizing the issuance of the bonds.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 980, Sec. 44, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2306.htm
- Text hash
- sha256 70c8a2717caffa3485a9a842e41c1149bb0a313bdaca1427e79f29b9ef9b88f3
- 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.