Tex. Water Code § 36.173 · Subchapter F. BONDS AND NOTES
ADDITIONAL SECURITY FOR BONDS AND NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The bonds and notes may be additionally secured by a deed of trust or mortgage lien on part or all of the physical properties of the district and rights appurtenant to those properties, vesting in the trustee power to sell the properties for payment of the indebtedness, power to operate the properties, and all other powers necessary for the further security of the bonds and notes.
(b) The trust indenture, regardless of the existence of the deed trust or mortgage lien on the properties, may contain provisions established by the board for the security of the bonds and notes and the preservation of the trust estate, may make provisions for amendment or modification, and may make provisions for investment of funds of the district.
(c) A purchaser under a sale under the deed trust or mortgage lien shall be absolute owner of the properties and rights purchased and may maintain and operate them.
Notes and commentary — not statutory text
History
Added by Acts 1995, 74th Leg., ch. 933, Sec. 2, 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/WA/htm/WA.36.htm
- Text hash
- sha256 fc1cd89b77737f06a60aa3ef57b311924f0c3d504cc245d2ee91d6d99c3fead3
- 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.