Tex. Spec. Dist. Local Laws Code Section 6905.262
Appointment of Receiver

(a)

On default or a 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 consent or hindrance by the board.

(c)

The receiver may be authorized to sell or contract for the sale of water or to 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 6905.262 — Appointment of Receiver, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­6905.­htm#6905.­262 (accessed Jun. 5, 2024).

6905.001
Definitions 6905.002
Nature of District 6905.003
Findings of Benefit and Public Purpose 6905.051
District Territory 6905.052
City of Beeville Annexations 6905.053
Annexation by Petition 6905.101
Composition of Board 6905.102
Removal from Office 6905.103
Board Resolutions 6905.104
Officers and Assistants 6905.105
Meetings 6905.106
Personal Liability of Directors 6905.151
General Powers 6905.152
Bylaws and Rules 6905.153
Regional Waste Disposal 6905.154
Permits 6905.155
Property Acquisition, Use, and Disposition 6905.156
Requests for and Acceptance of Aid 6905.157
District Office 6905.158
Personnel 6905.159
General Manager 6905.160
General Authority of Public Agencies and Political Subdivisions to Contract with District 6905.161
Contracts to Supply Water 6905.162
Sources for Water 6905.163
Construction Contracts 6905.164
Conveyance of Land to District 6905.165
Surplus Property 6905.166
Eminent Domain 6905.167
Cost of Relocating or Altering Property 6905.168
Rights-of-way 6905.201
District Money 6905.202
Depository 6905.203
Investment of District Money 6905.204
District Facilities Exempt from Taxation and Assessment 6905.251
Authority to Issue Bonds 6905.252
Form of Bonds 6905.253
Maturity 6905.254
Election for Bonds Payable from Ad Valorem Taxes 6905.255
Bonds Secured by Revenue 6905.256
Bonds Payable from Ad Valorem Taxes 6905.257
Additional Security 6905.258
Trust Indenture 6905.259
Deannexation of District Territory After Issuance of Bonds 6905.260
Charges for District Services 6905.261
Use of Bond Proceeds 6905.262
Appointment of Receiver 6905.263
Refunding Bonds 6905.264
Limitation on Rights of Holders 6905.265
Bonds Exempt from Taxation
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 6905.262’s source at texas​.gov