Tex. Health & Safety Code § 383.028 · Subchapter C. BONDS
TRUSTS AS SECURITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The governing body may additionally secure bonds, including refunding bonds, by a trust indenture under which the trustee may be a bank having trust powers located inside or outside the state.
(b) Regardless of any mortgage, deed of trust lien, or security interest under Section 383.029, the trust indenture may:
(1) contain any provision that the governing body prescribes for the security of the bonds and the preservation of the trust estate;
(2) provide for amendment or modification of the trust indenture;
(3) condition the right to spend the issuer's money or sell an issuer's control facility on approval of a registered professional engineer selected as provided by the trust indenture;
(4) contain provisions governing issuance of bonds to replace lost, stolen, or mutilated bonds; and
(5) otherwise provide for protecting and enforcing a bondholder's rights and remedies as is reasonable, proper, and lawful.
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.383.htm
- Text hash
- sha256 8342f96d3f115609732073830b9430aee0effb1e523200c36bc726af63654ea7
- 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
This section cites
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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.