Tex. Spec. Dist. Local Laws Code § 9015.358 · Subchapter H. BONDS
ADDITIONAL SECURITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Bonds, including refunding bonds, authorized by the law that are not payable wholly from ad valorem taxes may be additionally secured, at the discretion of the board, by a deed of trust or mortgage lien on physical property of the authority, 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 the payment of the debt;
(2) operate the property; and
(3) take other action to further secure the bonds.
(b) A purchaser under a sale under the deed of trust lien, if one is given:
(1) is the absolute owner of property, facilities, and rights purchased; and
(2) is entitled to maintain and operate the property, facilities, and rights.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.12, eff. April 1, 2009.
Renumbered from Special District Local Laws Code, Section 9009.358 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(85), eff. September 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.9015.htm
- Text hash
- sha256 0af3594cb5186a12f47e0cfc13e6593096016138cc608e8bd4a3d6cd3190b0a1
- 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.