Texas § 1506.156 ADDITIONAL SECURITY.

Texas Statutes

§ 1506.156 — ADDITIONAL SECURITY.

Texas § 1506.156

Code GVGovernment Code

This text of Texas § 1506.156 (ADDITIONAL SECURITY.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 1506.156 (2026).

Text

Sec. 1506.156. ADDITIONAL SECURITY.

(a)Bonds issued under this subchapter may be additionally secured by:

(1)an encumbrance on any real property relating to a facility authorized by this subchapter owned or to be acquired 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.

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Sec. 1506.156. ADDITIONAL SECURITY. (a) Bonds issued under this subchapter may be additionally secured by:
(1) an encumbrance on any real property relating to a facility authorized by this subchapter owned or to be acquired 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.