Tex. Spec. Dist. Local Laws Code Section 8509.0312
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 district’s proprietary affairs without the consent of 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 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.03, eff. April 1, 2021.

Source: Section 8509.0312 — Appointment of Receiver, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­8509.­htm#8509.­0312 (accessed May 4, 2024).

8509.0001
Definitions 8509.0002
Nature of District 8509.0003
Findings of Benefit and Public Purpose 8509.0004
District Territory 8509.0005
Correction of Invalid Procedures 8509.0051
Annexation of Territory 8509.0052
Withdrawal from or Dissolution of District 8509.0101
Composition of Board 8509.0102
Qualifications for Office 8509.0103
Removal 8509.0104
Vacancy 8509.0105
Officers 8509.0106
Vote by Board President 8509.0107
Employees 8509.0108
Director’s and Treasurer’s Bonds 8509.0109
Compensation of Directors 8509.0110
Interest in Contract 8509.0111
Director Training Program 8509.0112
Separation of Policymaking and Management Functions 8509.0113
Complaints 8509.0114
Negotiated Rulemaking and Alternative Dispute Resolution 8509.0115
Public Comment Policy 8509.0116
Expenditures 8509.0117
Seal 8509.0151
General Water Supply Powers 8509.0152
General Property Power 8509.0153
Contracts to Supply Water and Operate Facilities 8509.0154
Control of Storm and Flood Waters 8509.0155
District to Receive and Accept Technical and Financial Assistance 8509.0156
Water Appropriation Permits 8509.0157
Underground Sources of Water 8509.0158
Limitation on Construction of Certain Facilities 8509.0159
Disposal of District Property 8509.0160
Eminent Domain 8509.0161
Cost of Relocating or Altering Property 8509.0162
Certain Powers Related to District Property 8509.0163
Parks and Recreation Facilities 8509.0164
Surveys and Investigations 8509.0201
Adoption of Rules 8509.0202
Enforcement of Rules 8509.0203
Notice of Rule Providing Penalty 8509.0204
Judicial Notice of Rules 8509.0205
Enforcement by Peace Officers 8509.0251
Tax Method 8509.0252
Authority to Impose Tax 8509.0253
Depository 8509.0254
Payment of Tax or Assessment Not Required 8509.0301
Authority to Issue Bonds 8509.0302
Form of Bonds 8509.0303
Maturity 8509.0304
Election for Bonds Payable from Ad Valorem Taxes 8509.0305
Bonds Payable from Revenue 8509.0306
Bonds Payable from Ad Valorem Taxes 8509.0307
Tax and Rate Requirements 8509.0308
Additional Security 8509.0309
Trust Indenture 8509.0310
Interim Bonds or Notes 8509.0311
Use of Bond Proceeds 8509.0312
Appointment of Receiver 8509.0313
Refunding Bonds 8509.0314
Limitation on Rights of Bondholders 8509.0315
Bonds Exempt from Taxation
Green check means up to date. Up to date

Accessed:
May 4, 2024

§ 8509.0312’s source at texas​.gov