Tex. Health & Safety Code § 362.038 · Subchapter C. BONDS
OTHER SECURITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The bonds may be additionally secured by a mortgage, deed of trust lien, or security interest in a designated system of the issuer's governing body and all property and rights appurtenant to the system.
(b) The mortgage, deed of trust lien, or security interest may give the trustee the power to operate the system, sell the system to pay the debt, or take any other action to secure the bonds.
(c) A purchaser at a sale under a mortgage or deed of trust lien is the absolute owner of the system and rights purchased.
Notes and commentary — not statutory text
History
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/HS/htm/HS.362.htm
- Text hash
- sha256 e388ced7cb64fc20871b19527db6c49a930d073fd04ecb32c994f592756c1ef1
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Health & Safety Code § 362.038. Each shows the citation as that text prints it.
Health and Safety Code
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.