Texas § 8508.0259 ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING OBLIGATIONS OR TRUST INDENTURE.

Texas Statutes

§ 8508.0259 — ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING OBLIGATIONS OR TRUST INDENTURE.

Texas § 8508.0259

Code SDSpecial District Local Laws Code

This text of Texas § 8508.0259 (ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING OBLIGATIONS OR TRUST INDENTURE.) 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. § 8508.0259 (2026).

Text

Sec. 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.

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Sec. 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.