Tex. Transp. Code Section 283.208
Rights of Bondholders

(a)

A bond issued under this chapter creates and grants a lien on bond proceeds in favor of a bondholder until the bond is paid.

(b)

In addition to other legal remedies, a bondholder may enforce the bondholder’s rights against:

(1)

a county and its employees; and

(2)

a board, including an agent or employee, created to operate the project.

(c)

A bondholder’s rights include the right to:

(1)

require the county or board to:

(A)

impose and collect sufficient tolls and other charges to carry out agreements in the bond instrument; and

(B)

perform an agreement, covenant, or duty provided in the bond instrument; and

(2)

apply for and obtain the appointment of a receiver for the project.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.

Source: Section 283.208 — Rights of Bondholders, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­283.­htm#283.­208 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 283.208’s source at texas​.gov