Tex. Spec. Dist. Local Laws Code Section 11003.257
Additional Security

(a)

District bonds, including refunding bonds, that are not payable wholly from ad valorem taxes may be additionally secured, at the discretion of the board, by a deed of trust or mortgage lien on physical property of the district and all franchises, easements, water rights, and appropriation permits, leases, and contracts and all rights appurtenant to the property, vesting in the trustee power to:

(1)

sell the property for the payment of the debt;

(2)

operate the property; and

(3)

take other action to further secure the bonds.

(b)

A purchaser under a sale under the deed of trust lien, if one is given:

(1)

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

(2)

is entitled to maintain and operate the property, facilities, and rights.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.07, eff. April 1, 2015.

Source: Section 11003.257 — Additional Security, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­11003.­htm#11003.­257 (accessed May 4, 2024).

11003.001
Definitions 11003.002
Nature of District 11003.003
Findings of Benefit and Public Purpose 11003.051
District Territory 11003.052
Annexation of City Territory 11003.053
Annexation of Other Territory 11003.101
Composition of Board 11003.102
Qualifications for Office 11003.103
Vacancies 11003.104
Removal from Office 11003.105
Board Resolutions 11003.106
Officers and Assistants 11003.107
Duties of Officers and Assistants 11003.108
Meetings 11003.109
Personal Liability of Directors 11003.151
District Powers 11003.152
Permits 11003.153
General Authority of Public Agencies and Political Subdivisions to Contract with District 11003.154
Contracts to Supply Water 11003.155
Sources for Water 11003.156
Construction Contracts 11003.157
Conveyance of Land to District 11003.158
Surplus Property 11003.159
Eminent Domain 11003.160
Cost of Relocating or Altering Property 11003.161
Other District Powers 11003.201
Imposition of Maintenance Tax 11003.202
Depository 11003.203
Investment of District Money 11003.204
District Facilities Exempt from Taxation and Assessment 11003.251
Authority to Issue Bonds 11003.252
Form of Bonds 11003.253
Maturity 11003.254
Election for Bonds Payable from Ad Valorem Taxes 11003.255
Bonds Secured by Revenue 11003.256
Bonds Payable from Ad Valorem Taxes 11003.257
Additional Security 11003.258
Trust Indenture 11003.259
Charges for District Services 11003.260
Use of Bond Proceeds 11003.261
Appointment of Receiver 11003.262
Refunding Bonds 11003.263
Limitation on Rights of Bondholders 11003.264
Bonds Exempt from Taxation 11003.265
Detachment of District Territory After Issuance of Bonds
Green check means up to date. Up to date

Accessed:
May 4, 2024

§ 11003.257’s source at texas​.gov