Tex. Loc. Gov't Code § 501.157

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 501.157 - Default on Agreement; Enforcement

An agreement relating to a project must provide that if a default occurs in the payment of the principal of or the interest or premium on the bonds or in the performance of any agreement contained in a proceeding, mortgage, or instrument, the payment or performance may be enforced by:

(1) mandamus; or

(2) the appointment of a receiver in equity with the power to:

(A) charge and collect rents, purchase price payments, and loan payments; and

(B) apply the revenue from the project in accordance with the resolution, mortgage, or instrument.

Tex. Loc. Gov't. Code § 501.157

Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.01, eff. 4/1/2009.