Texas § 336.306 SECURITY PLEDGED.

Texas Statutes

§ 336.306 — SECURITY PLEDGED.

Texas § 336.306

Code LGLocal Government Code

This text of Texas § 336.306 (SECURITY PLEDGED.) 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. Local Government Code Code Ann. § 336.306 (2026).

Text

Sec. 336.306. SECURITY PLEDGED.

(a)To secure the payment of a district's bonds, the district may:

(1)pledge all or part of revenue realized from any tax that the district may impose;

(2)pledge all or part of revenue from library facilities; or

(3)mortgage all or part of the district's facilities, including any part of the facilities subsequently acquired.

(b)A district may, subject to the terms of the bond indenture or the resolution authorizing the issuance of the bonds, secure payment of district bonds by encumbering a separate item of the district facilities and may acquire, use, hold, or contract for the property by lease, chattel mortgage, or other conditional sale.

(c)This subchapter does not prohibit a district from encumbering one or more library facilities to purchase, const

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Sec. 336.306. SECURITY PLEDGED. (a) To secure the payment of a district's bonds, the district may:
(1) pledge all or part of revenue realized from any tax that the district may impose;
(2) pledge all or part of revenue from library facilities; or
(3) mortgage all or part of the district's facilities, including any part of the facilities subsequently acquired.
(b) A district may, subject to the terms of the bond indenture or the resolution authorizing the issuance of the bonds, secure payment of district bonds by encumbering a separate item of the district facilities and may acquire, use, hold, or contract for the property by lease, chattel mortgage, or other conditional sale.
(c) This subchapter does not prohibit a district from encumbering one or more library facilities to purchase, construct, or improve one or more other district facilities.