Texas § 283.206 BOND PROVISIONS.

Texas Statutes

§ 283.206 — BOND PROVISIONS.

Texas § 283.206

Code TNTransportation Code

This text of Texas § 283.206 (BOND PROVISIONS.) 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. Transportation Code Code Ann. § 283.206 (2026).

Text

Sec. 283.206. BOND PROVISIONS.

(a)A bond authorized by this chapter shall contain the following clause: "The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation."

(b)A bond instrument may contain provisions:

(1)that restrict individual rights of action of a bondholder;

(2)that detail the rights and remedies of a bondholder and a trustee;

(3)to protect and enforce as reasonable the rights and remedies of a bondholder, including covenants detailing the duties of the county in:

(A)acquiring property and constructing, maintaining, operating, repairing, and insuring the project; and

(B)maintaining custody of the bond proceeds and revenues and safeguarding and applying the funds; and

(4)to secure as reasonable

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Sec. 283.206. BOND PROVISIONS. (a) A bond authorized by this chapter shall contain the following clause: "The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation."
(b) A bond instrument may contain provisions:
(1) that restrict individual rights of action of a bondholder;
(2) that detail the rights and remedies of a bondholder and a trustee;
(3) to protect and enforce as reasonable the rights and remedies of a bondholder, including covenants detailing the duties of the county in:
(A) acquiring property and constructing, maintaining, operating, repairing, and insuring the project; and
(B) maintaining custody of the bond proceeds and revenues and safeguarding and applying the funds; and
(4) to secure as reasonable a bondholder, including covenants detailing:
(A) an event that constitutes an event of default;
(B) terms and conditions that would or could result in an acceleration of the bond maturity date; and
(C) rights, liabilities, powers, and duties that arise because of a breach by the county.