Tex. Spec. Dist. Local Laws Code Section 8270.253
Trust Indenture

A trust indenture created under Section 8270.252 (Additional Security), regardless of the existence of a deed of trust or mortgage lien on the property, may:

(1)

provide for the security of the bonds and the preservation of the trust estate in the manner prescribed by the board;

(2)

provide for amendment or modification of the trust indenture;

(3)

provide for the issuance of bonds to replace lost or mutilated bonds;

(4)

condition the right to spend district money or sell district property on the approval of a licensed engineer selected as provided by the trust indenture; and

(5)

provide for the investment of district money.
Redesignated from Special District Local Laws Code, Chapter 9013 and amended by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 21.101, eff. September 1, 2009.

Source: Section 8270.253 — Trust Indenture, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­8270.­htm#8270.­253 (accessed Apr. 20, 2024).

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Accessed:
Apr. 20, 2024

§ 8270.253’s source at texas​.gov