Tex. Spec. Dist. Local Laws Code § 8508.0259 · Subchapter F. OBLIGATIONS RELATING TO BORROWED MONEY OR GRANTS
ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING OBLIGATIONS OR TRUST INDENTURE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The resolution authorizing obligations or the trust indenture further securing obligations may specify additional provisions that constitute a contract between the authority and the owners of those obligations.
(b) The board may provide for the additional provisions, including a corporate trustee or receiver provided by the authority to take possession of authority facilities in the event of the authority's default in fulfilling the covenants.
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.03, eff. April 1, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8508.htm
- Text hash
- sha256 df97a32bd1cdd9a39ae5a92ac0b3d31ba8965dd74f3d87d9e77463b86416880d
- 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.