Texas § 1508.155 ADDITIONAL SECURITY.

Texas Statutes

§ 1508.155 — ADDITIONAL SECURITY.

Texas § 1508.155

Code GVGovernment Code

This text of Texas § 1508.155 (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. § 1508.155 (2026).

Text

Sec. 1508.155. ADDITIONAL SECURITY.

(a)The bonds may be additionally secured by:

(1)an encumbrance on any real property relating to a facility described by Section 1508.152 (a) owned or to be acquired by the municipality; or

(2)an encumbrance on any personal property appurtenant to that real property.

(b)The governing body of the municipality may authorize the execution of a trust indenture, mortgage, deed of trust, or other form of encumbrance as evidence of the debt.

(c)The municipality may also pledge to the payment of the bonds all or part of any grant, donation, revenue, or income received or to be received from the United States or any other public or private source.

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Sec. 1508.155. ADDITIONAL SECURITY. (a) The bonds may be additionally secured by:
(1) an encumbrance on any real property relating to a facility described by Section 1508.152 (a) owned or to be acquired by the municipality; or
(2) an encumbrance on any personal property appurtenant to that real property.
(b) The governing body of the municipality may authorize the execution of a trust indenture, mortgage, deed of trust, or other form of encumbrance as evidence of the debt.
(c) The municipality may also pledge to the payment of the bonds all or part of any grant, donation, revenue, or income received or to be received from the United States or any other public or private source.