Texas § 172.302 SECURITY FOR PAYMENT OF BONDS.

Texas Statutes

§ 172.302 — SECURITY FOR PAYMENT OF BONDS.

Texas § 172.302

Code TNTransportation Code

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Bluebook

Tex. Transportation Code Code Ann. § 172.302 (2026).

Text

Sec. 172.302. SECURITY FOR PAYMENT OF BONDS.

(a)To secure payment of district bonds, the district may:

(1)encumber and pledge all or part of the revenue of its rail facilities; and

(2)encumber all or part of the property of the rail facilities and everything pertaining to them acquired or to be acquired.

(b)Unless prohibited by the resolution or indenture relating to outstanding bonds, a district may encumber separately any item of property.

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Sec. 172.302. SECURITY FOR PAYMENT OF BONDS. (a) To secure payment of district bonds, the district may:
(1) encumber and pledge all or part of the revenue of its rail facilities; and
(2) encumber all or part of the property of the rail facilities and everything pertaining to them acquired or to be acquired.
(b) Unless prohibited by the resolution or indenture relating to outstanding bonds, a district may encumber separately any item of property.