Tex. Transp. Code § 283.206 · Subchapter C. PROVISIONS RELATING TO BONDS
BOND PROVISIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A bond authorized by this chapter shall contain the following clause: "The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation."
(b) A bond instrument may contain provisions:
(1) that restrict individual rights of action of a bondholder;
(2) that detail the rights and remedies of a bondholder and a trustee;
(3) to protect and enforce as reasonable the rights and remedies of a bondholder, including covenants detailing the duties of the county in:
(A) acquiring property and constructing, maintaining, operating, repairing, and insuring the project; and
(B) maintaining custody of the bond proceeds and revenues and safeguarding and applying the funds; and
(4) to secure as reasonable a bondholder, including covenants detailing:
(A) an event that constitutes an event of default;
(B) terms and conditions that would or could result in an acceleration of the bond maturity date; and
(C) rights, liabilities, powers, and duties that arise because of a breach by the county.
Notes and commentary — not statutory text
History
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.283.htm
- Text hash
- sha256 dcf4c9f173029dd244bba985c53606e0a561e3da6e5160c67dc426494d75a023
- 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.