Tex. Spec. Dist. Local Laws Code § 6903.308 · Subchapter G. BONDS
ADDITIONAL SECURITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Bonds, including refunding bonds, authorized by this subchapter that are not payable wholly from ad valorem taxes may be additionally secured by a deed of trust lien on physical property of the district and all franchises, easements, water rights and appropriation permits, leases, contracts, and all rights appurtenant to the property, vesting in the trustee power to:
(1) sell the property for payment of the debt;
(2) operate the property; and
(3) take other action to further secure the bonds.
(b) The deed of trust may:
(1) contain any provision the board prescribes to secure the bonds and preserve the trust estate;
(2) provide for amendment or modification of the deed of trust; and
(3) provide for the issuance of bonds to replace lost or mutilated bonds.
(c) A purchaser under a sale under the deed of trust:
(1) is the owner of the dam or dams and the other property, including facilities, purchased; and
(2) is entitled to maintain and operate the property, including facilities.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.06, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.6903.htm
- Text hash
- sha256 36fd3c31ef3ace383a8bec910f6fd1fc50c61b919bace604f2d3bb51dd0ceb51
- 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.