Texas § 9092.0509 TRUST INDENTURE.

Texas Statutes

§ 9092.0509 — TRUST INDENTURE.

Texas § 9092.0509

Code SDSpecial District Local Laws Code

This text of Texas § 9092.0509 (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. § 9092.0509 (2026).

Text

Text of section effective on April 01, 2027 Sec. 9092.0509. TRUST INDENTURE.

(a)District bonds, including revenue bonds, that are not payable wholly from ad valorem taxes may be additionally secured by a trust indenture. The trustee may be a bank with trust powers located inside or outside this state.

(b)A trust indenture, regardless of the existence of a deed of trust or mortgage lien on property, may:

(1)contain any provisions prescribed by the board for the security of the bonds and the preservation of the trust estate;

(2)provide for amendment or modification of the trust indenture;

(3)provide for the issuance of bonds to replace lost or mutilated bonds;

(4)condition the right to spend district money or sell district property on the approval of a licensed engineer selected as pro

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Text of section effective on April 01, 2027
Sec. 9092.0509. TRUST INDENTURE. (a) District bonds, including revenue bonds, that are not payable wholly from ad valorem taxes may be additionally secured by a trust indenture. The trustee may be a bank with trust powers located inside or outside this state.
(b) A trust indenture, regardless of the existence of a deed of trust or mortgage lien on property, may:
(1) contain any provisions prescribed by the board for the security of the bonds and the preservation of the trust estate;
(2) provide for amendment or modification of the trust indenture;
(3) provide for the issuance of bonds to replace lost or mutilated bonds;
(4) condition the right to spend district money or sell district property on the approval of a licensed engineer selected as provided by the trust indenture; and
(5) provide for the investment of district money.