Tex. Spec. Dist. Local Laws Code Section 6902.211
Appointment of Receiver

state.tx.us/GetStatute.aspx?Code=SD&Value=6902.211">6902.211. APPOINTMENT OF RECEIVER. (a) On default or threatened default in the payment of principal of or interest on bonds issued under this subchapter that are payable wholly or partly from revenue, a court may, on petition of the holders of outstanding bonds, appoint a receiver for the district.

(b)

The receiver may collect and receive all district income, except taxes, employ and discharge district agents and employees, take charge of money on hand, except money received from taxes, unless commingled, and manage the proprietary affairs of the district without the consent of the board.

(c)

The receiver may be authorized to sell or contract for the sale of water or renew those contracts with the approval of the court that appointed the receiver.

(d)

The court may vest the receiver with any other power or duty the court finds necessary to protect the bondholders.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.06, eff. April 1, 2009.

Source: Section 6902.211 — Appointment of Receiver, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­6902.­htm#6902.­211 (accessed May 4, 2024).

6902.001
Definitions 6902.002
Nature of District 6902.003
Findings of Benefit and Public Purpose 6902.004
District Territory 6902.005
Sufficient Authority for Entities to Act 6902.051
Composition of Board 6902.052
Terms 6902.053
Qualifications for Office 6902.054
Ex Officio Directors 6902.055
Vacancy 6902.056
Removal from Office 6902.057
Quorum 6902.058
Board Resolutions 6902.059
Officers and Assistants 6902.060
Officer Duties 6902.061
Meetings 6902.062
Personal Liability of Directors 6902.101
General Powers 6902.102
Authority to Sue and Be Sued 6902.103
Seal 6902.104
Bylaws 6902.105
Gifts and Grants 6902.106
Office 6902.107
Employees, Agents, and Officers 6902.108
Water Conservation Program 6902.109
Water Permits 6902.110
General Authority of Public Agencies and Political Subdivisions to Contract with District 6902.111
Contracts to Supply Water 6902.112
Sources for Water 6902.113
Acquisition, Disposal, and Management of Property 6902.114
Construction Contracts 6902.115
Conveyance of Land to District 6902.116
Surplus Property 6902.117
Eminent Domain 6902.118
Cost of Relocating or Altering Property 6902.119
Rights-of-way 6902.151
Tax Collection 6902.152
Advisory Duties of Crane County Auditor 6902.153
District Money 6902.154
Depository 6902.155
Investment of District Money 6902.156
District Facilities Exempt from Taxation and Assessment 6902.201
Authority to Issue Bonds 6902.202
Form of Bonds 6902.203
Maturity 6902.204
Election for Bonds Payable from Property Taxes 6902.205
Bonds Secured by Revenue 6902.206
Bonds Payable from Property Taxes 6902.207
Additional Security 6902.208
Trust Indenture 6902.209
Charges for District Services 6902.210
Use of Bond Proceeds 6902.211
Appointment of Receiver 6902.212
Limitation on Rights of Holders 6902.213
Bonds Exempt from Taxation 6902.214
Exclusion of Territory After Issuance of Bonds 6902.251
Authority to Issue Refunding Bonds 6902.252
Terms of Issuance of Refunding Bonds 6902.253
Registration of Refunding Bonds by Comptroller 6902.254
Escrow Agreement
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Accessed:
May 4, 2024

§ 6902.211’s source at texas​.gov