Section 8508.0259 - Additional Provisions in Resolution Authorizing Obligations or Trust Indenture(a) The resolution authorizing obligations or the trust indenture further securing obligations may specify additional provisions that constitute a contract between the authority and the owners of those obligations.(b) The board may provide for the additional provisions, including a corporate trustee or receiver provided by the authority to take possession of authority facilities in the event of the authority's default in fulfilling the covenants.Tex. Spec. Dist. Loc. Laws § 8508.0259
Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. TBD,Sec. 1.03, eff. 4/1/2021.