Tex. Spec. Dist. Local Laws Code § 9601.205 · Subchapter E. BONDS
ADDITIONAL SECURITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) At the discretion of the board, bonds may be additionally secured by a deed of trust or mortgage lien on all or part of the district's physical property, facilities, 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 bonds;
(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, is:
(1) the absolute owner of the property, facilities, and rights purchased; and
(2) entitled to maintain and operate the property, facilities, and rights.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 523 (S.B. 1223), Sec. 1, eff. June 19, 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.9601.htm
- Text hash
- sha256 4563d3c34fe82908fc904a447085e826ba42ddfa7f3189ec69514fb8045d78e7
- 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.