Tex. Spec. Dist. Local Laws Code § 11003.258 · Subchapter F. BONDS
TRUST INDENTURE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) District bonds, including refunding bonds, that are not payable wholly from ad valorem taxes may be additionally secured by a trust indenture. The trustee may be a bank with trust powers located inside or outside the state.
(b) A trust indenture, regardless of the existence of a deed of trust or mortgage lien on property, may:
(1) provide for the security of the bonds and the preservation of the trust estate as prescribed by the board;
(2) provide for amendment or modification of the trust indenture;
(3) provide for the issuance of bonds to replace lost or mutilated bonds;
(4) condition the right to spend district money or sell district property on the approval of a licensed engineer selected as provided by the trust indenture; and
(5) provide for the investment of district money.
Notes and commentary — not statutory text
History
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.07, eff. April 1, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.11003.htm
- Text hash
- sha256 2ef0fa3d37aa3029c9f4b8bb9bb23db5b7459fae86406a906fe209fa8d7b772a
- 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.