Tex. Spec. Dist. Local Laws Code § 11007.210 · Subchapter E. BONDS
APPOINTMENT OF RECEIVER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) On default or threatened default in the payment of the principal of or interest on district bonds that are payable wholly or partly from revenue, a court may, on petition of the holders of at least 25 percent of the district's outstanding revenue bonds, appoint a receiver for the district.
(b) The receiver may collect and receive all district revenue, other than taxes, employ and discharge district agents and employees, and take charge of money on hand, other than money received from taxes, unless commingled, and/or hindrance by the board.
(c) The receiver may be authorized to sell or contract for the sale of water or the collection or treatment of waste or to renew contracts, with the approval of the court that appointed the receiver.
(d) The court may vest the receiver with any other power or duty the court finds necessary to protect the bondholders.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.07, eff. April 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.11007.htm
- Text hash
- sha256 76f85dd7a98d8f3c433cbe132a8dfd565a02c786e763048a3bc22ca98c25a39e
- 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.