Tex. Spec. Dist. Local Laws Code Section 11005.257
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 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.07, eff. April 1, 2017.

Source: Section 11005.257 — Additional Security, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­11005.­htm#11005.­257 (accessed May 4, 2024).

11005.001
Definitions 11005.002
Nature of District 11005.003
Findings of Benefit and Public Purpose 11005.051
District Territory 11005.052
Annexation of City Territory 11005.053
Annexation of Other Territory 11005.054
Detachment of District Territory After Issuance of Bonds 11005.101
Composition of Board 11005.102
Compensation of Directors 11005.103
Qualifications for Office 11005.104
Vacancies 11005.105
Removal from Office 11005.106
Board Resolutions 11005.107
Officers and Assistants 11005.108
Duties of Officers and Assistants 11005.109
Meetings 11005.110
Personal Liability of Directors 11005.151
District Powers 11005.152
Permits 11005.153
General Authority of Public Agencies and Political Subdivisions to Contract with District 11005.154
District Authority to Contract to Supply Water 11005.155
Sources for Water 11005.156
Construction Contracts 11005.157
Conveyance of Land to District 11005.158
Surplus Property 11005.159
Eminent Domain 11005.160
Cost of Relocating or Altering Property 11005.161
Other District Powers 11005.201
Depository 11005.202
Investment of District Money 11005.203
District Facilities Exempt from Taxation and Assessment 11005.251
Authority to Issue Bonds 11005.252
Form of Bonds 11005.253
Maturity 11005.254
Election for Bonds Payable from Ad Valorem Taxes 11005.255
Bonds Secured by Revenue 11005.256
Bonds Payable from Ad Valorem Taxes 11005.257
Additional Security 11005.258
Trust Indenture 11005.259
Rates for Services 11005.260
Use of Bond Proceeds 11005.261
Appointment of Receiver 11005.262
Refunding Bonds 11005.263
Limitation on Rights of Bondholders 11005.264
Bonds Exempt from Taxation
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Accessed:
May 4, 2024

§ 11005.257’s source at texas​.gov