Tex. Spec. Dist. Local Laws Code § 9045.202 · Subchapter E. BONDS
ADDITIONAL SECURITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Within the discretion of the board, bonds issued under this subchapter may be additionally secured by a deed of trust or mortgage lien on physical property of the district and franchises, easements, water rights and appropriation permits, leases, contracts, and all rights appurtenant to that property, vesting in the trustee:
(1) the power to sell the property for payment of the debt;
(2) the power to operate the property; and
(3) all other powers to further secure the bonds.
(b) A purchaser under a sale under the deed of trust or mortgage lien, if one is given:
(1) is the absolute owner of the property, facilities, and rights purchased; and
(2) may maintain and operate the property and facilities.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9045.htm
- Text hash
- sha256 0fb69e53dd09c5e8a965b743f7a64de7f7e666e1b92eb01ed5d1daae8fceb281
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Spec. Dist. Local Laws Code § 9045.202. Each shows the citation as that text prints it.
Special District Local Laws Code
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