Tex. Spec. Dist. Local Laws Code § 8511.0709 · Subchapter G. BONDS, BORROWED MONEY, AND GRANTS
ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING BONDS OR TRUST INDENTURE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The resolution authorizing the bonds or the trust indenture further securing the bonds may specify additional provisions that constitute a contract between the authority and its bondholders.
(b) The board has full discretion in providing for the additional provisions, including the authority to provide for a corporate trustee or receiver to take possession of authority facilities if the authority defaults in fulfilling the covenants made in the resolution or trust indenture.
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8511.htm
- Text hash
- sha256 27458c38e95d0ef67a4dc5bdc2a0048e9d9a49762a87281a3caa2d3c589de0fd
- 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.