Tex. Spec. Dist. Local Laws Code Section 6906.210
Appointment of Receiver

(a)

On default or threatened default in the payment of the principal of or interest on district bonds 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, employ and discharge district agents and employees, take charge of money on hand, 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 the collection, processing, or disposal of waste or to renew 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 6906.210 — Appointment of Receiver, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­6906.­htm#6906.­210 (accessed May 4, 2024).

6906.001
Definitions 6906.002
Nature of District 6906.003
Findings of Benefit and Public Purpose 6906.004
District Territory 6906.051
Composition of Board 6906.052
Qualifications for Office 6906.053
Vacancies 6906.054
Removal from Office 6906.055
Board Resolutions 6906.056
Officers and Assistants 6906.057
Duties of Officers and Assistants 6906.058
Meetings 6906.059
Personal Liability of Directors 6906.101
General Powers 6906.102
General Powers Regarding Water 6906.103
General Powers Regarding Waste 6906.104
District Bylaws and Rules 6906.105
Property Acquisition, Use, and Disposition 6906.106
Requests for and Acceptance of Aid 6906.107
District Office 6906.108
Personnel 6906.109
Permits 6906.110
General Contract Powers 6906.111
Authority of Public Agencies and Political Subdivisions to Contract with District 6906.112
Acquisition of Land 6906.113
Construction Contracts 6906.114
Conveyance of Land to District 6906.115
Disposal of Property 6906.116
Eminent Domain 6906.117
Cost of Relocating or Altering Property 6906.118
Rights-of-way 6906.119
Seal 6906.151
District Money 6906.152
Authority to Borrow Money and Issue Bonds 6906.153
Depository 6906.154
Investment of District Money 6906.155
District Facilities Exempt from Taxation and Assessment 6906.201
Authority to Issue Bonds 6906.202
Form of Bonds 6906.203
Maturity 6906.204
Bonds Secured by Revenue 6906.205
Additional Security 6906.206
Trust Indenture 6906.207
Charges for District Services 6906.208
State Pledge Regarding Rights and Remedies of Bondholders 6906.209
Use of Bond Proceeds 6906.210
Appointment of Receiver 6906.211
Refunding Bonds 6906.212
Other Remedies and Covenants 6906.213
Limitation on Rights of Bondholders 6906.214
Bonds Exempt from Taxation
Green check means up to date. Up to date

Accessed:
May 4, 2024

§ 6906.210’s source at texas​.gov