Texas § 8511.0709 ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING BONDS OR TRUST INDENTURE.

Texas Statutes

§ 8511.0709 — ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING BONDS OR TRUST INDENTURE.

Texas § 8511.0709

Code SDSpecial District Local Laws Code

This text of Texas § 8511.0709 (ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING BONDS 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. § 8511.0709 (2026).

Text

Sec. 8511.0709. ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING BONDS OR TRUST INDENTURE.

(a)The resolution authorizing the bonds or the trust indenture further securing the bonds may specify additional provisions that constitute a contract between the authority and its bondholders.

(b)The board has full discretion in providing for the additional provisions, including the authority to provide for a corporate trustee or receiver to take possession of authority facilities if the authority defaults in fulfilling the covenants made in the resolution or trust indenture.

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Sec. 8511.0709. ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING BONDS OR TRUST INDENTURE. (a) The resolution authorizing the bonds or the trust indenture further securing the bonds may specify additional provisions that constitute a contract between the authority and its bondholders.
(b) The board has full discretion in providing for the additional provisions, including the authority to provide for a corporate trustee or receiver to take possession of authority facilities if the authority defaults in fulfilling the covenants made in the resolution or trust indenture.