Tex. Spec. Dists. Code § 8183.258

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 8183.258 - Additional Security
(a) Bonds not payable wholly from ad valorem taxes may be additionally secured, at the discretion of the board, by a deed of trust or mortgage lien on physical property of the district, franchises, easements, water rights and appropriation permits, leases, contracts, and all rights appurtenant to the property, vesting in the trustee the power to:
(1) sell the property for the payment of the debt;
(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:
(1) is the absolute owner of property, facilities, and rights purchased; and
(2) is entitled to maintain and operate the property, facilities, and rights.

Tex. Spec. Dist. Loc. Laws § 8183.258

Added by Acts 2007, 80th Leg., R.S., Ch. 920, Sec. 1.10, eff. 4/1/2009.