Section 1509.205 - Additional Security(a) Bonds issued under this subchapter may be additionally secured by: (1) an encumbrance on any real property owned by the municipality;(2) an encumbrance on any personal property appurtenant to that real property; or(3) a pledge of any portion of a grant, donation, revenue, or income received or to be received from the United States or any other public or private source.(b) The governing body of the municipality may authorize the execution of a trust indenture, mortgage, deed of trust, or other instrument as evidence of the encumbrance.Tex. Gov't. Code § 1509.205
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.