Tex. Spec. Dist. Local Laws Code Section 11006.257
Additional Security

(a)

Authority 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 authority 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 11006.257 — Additional Security, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­11006.­htm#11006.­257 (accessed May 4, 2024).

11006.001
Definitions 11006.002
Nature of Authority 11006.003
Findings of Benefit and Public Purpose 11006.051
Authority Territory 11006.052
Annexation of Territory 11006.101
Composition of Board 11006.102
Qualifications for Office 11006.103
Vacancies 11006.104
Removal from Office 11006.105
Bond 11006.106
Board Resolutions 11006.107
Officers and Assistants 11006.108
Duties of Officers and Assistants 11006.109
Meetings 11006.110
Personal Liability of Directors 11006.151
General Powers 11006.152
Permits 11006.153
General Power of Public Agencies and Political Subdivisions to Contract with Authority 11006.154
Contracts to Supply Water 11006.155
Sources for Water 11006.156
Conveyance of Land to Authority 11006.157
Surplus Property 11006.158
Eminent Domain 11006.159
Cost of Relocating or Altering Property 11006.160
Other Authority Powers 11006.201
Depository 11006.202
Investment of Authority Money 11006.203
Authority Accounts 11006.204
Authority Facilities Exempt from Taxation and Assessment 11006.251
Authority to Issue Bonds 11006.252
Form of Bonds 11006.253
Maturity 11006.254
Election for Bonds Payable from Ad Valorem Taxes 11006.255
Bonds Secured by Revenue 11006.256
Bonds Payable from Ad Valorem Taxes 11006.257
Additional Security 11006.258
Trust Indenture 11006.259
Charges for Authority Services 11006.260
Use of Bond Proceeds 11006.261
Appointment of Receiver 11006.262
Refunding Bonds 11006.263
Limitation on Rights of Bondholders 11006.264
Bonds Exempt from Taxation 11006.265
Detachment of Authority Territory After Issuance of Bonds
Green check means up to date. Up to date

Accessed:
May 4, 2024

§ 11006.257’s source at texas​.gov