Tex. Spec. Dist. Local Laws Code § 8104.307 · Subchapter G. BONDS AND NOTES
TRUST INDENTURE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Bonds or notes, including refunding bonds, authorized by this chapter may be additionally secured by a trust indenture under which the trustee may be a bank that has trust powers. The bank may be located in or outside of this state.
(b) Regardless of any mortgage or deed of trust lien or security interest in the facilities or assets, the trust indenture may:
(1) contain any provision prescribed by the authority and the Baytown City Council for the security of the bonds or notes and the preservation of the trust estate;
(2) provide for amendment or modification of the trust indenture;
(3) condition the right to spend authority money or to sell the authority's facilities or assets on approval of a licensed engineer selected as provided by the trust indenture; and
(4) include any other provision to protect and enforce the rights and remedies of the bond or note holders as may be reasonable and proper.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.06, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8104.htm
- Text hash
- sha256 50d11b4703fb569caf2e8b68d2f579b27af4cff4a1c5ebd845a555b8255fd3fa
- 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.