Texas § 9045.202 ADDITIONAL SECURITY.

Texas Statutes

§ 9045.202 — ADDITIONAL SECURITY.

Texas § 9045.202

Code SDSpecial District Local Laws Code

This text of Texas § 9045.202 (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. § 9045.202 (2026).

Text

Sec. 9045.202. ADDITIONAL SECURITY.

(a)Within the discretion of the board, bonds issued under this subchapter may be additionally secured by a deed of trust or mortgage lien on physical property of the district and franchises, easements, water rights and appropriation permits, leases, contracts, and all rights appurtenant to that property, vesting in the trustee:

(1)the power to sell the property for payment of the debt;

(2)the power to operate the property; and

(3)all other powers to further secure the bonds.

(b)A purchaser under a sale under the deed of trust or mortgage lien, if one is given:

(1)is the absolute owner of the property, facilities, and rights purchased; and

(2)may maintain and operate the property and facilities.

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Sec. 9045.202. ADDITIONAL SECURITY. (a) Within the discretion of the board, bonds issued under this subchapter may be additionally secured by a deed of trust or mortgage lien on physical property of the district and franchises, easements, water rights and appropriation permits, leases, contracts, and all rights appurtenant to that property, vesting in the trustee:
(1) the power to sell the property for payment of the debt;
(2) the power to operate the property; and
(3) all other powers to further secure the bonds.
(b) A purchaser under a sale under the deed of trust or mortgage lien, if one is given:
(1) is the absolute owner of the property, facilities, and rights purchased; and
(2) may maintain and operate the property and facilities.