Texas § 8101.258 ADDITIONAL SECURITY.

Texas Statutes

§ 8101.258 — ADDITIONAL SECURITY.

Texas § 8101.258

Code SDSpecial District Local Laws Code

This text of Texas § 8101.258 (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. Special District Local Laws Code Code Ann. § 8101.258 (2026).

Text

Sec. 8101.258. ADDITIONAL SECURITY.

(a)Bonds, including refunding bonds, payable partly or wholly from a pledge of revenue authorized by this subchapter may be additionally secured by a mortgage lien on physical properties of the authority and all franchises, easements, water rights and appropriation permits, leases, contracts, and all rights appurtenant to those properties, vesting in the trustee under the trust indenture the power to:

(1)sell the properties for payment of the debt;

(2)operate the properties; and

(3)take any other action to secure the bonds.

(b)A purchaser under a sale under the deed of trust:

(1)is the absolute owner of the properties and facilities purchased; and

(2)is entitled to maintain and operate those properties and facilities.

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Sec. 8101.258. ADDITIONAL SECURITY. (a) Bonds, including refunding bonds, payable partly or wholly from a pledge of revenue authorized by this subchapter may be additionally secured by a mortgage lien on physical properties of the authority and all franchises, easements, water rights and appropriation permits, leases, contracts, and all rights appurtenant to those properties, vesting in the trustee under the trust indenture the power to:
(1) sell the properties for payment of the debt;
(2) operate the properties; and
(3) take any other action to secure the bonds.
(b) A purchaser under a sale under the deed of trust:
(1) is the absolute owner of the properties and facilities purchased; and
(2) is entitled to maintain and operate those properties and facilities.