Tex. Transp. Code Section 284.046
Bondholder Rights


(a)

In addition to all other rights by mandamus or other court proceeding, a holder or trustee of a bond issued under this chapter may enforce the holder’s rights against the county, the county’s employees, an operating board, or an agent or employee of the operating board and is entitled to:

(1)

require the county and the board to impose and collect tolls and charges sufficient to carry out any agreement contained in the bond instrument; and

(2)

apply for and obtain the appointment of a receiver for the project.

(b)

A bond instrument may contain provisions for the protection and enforcement of a bondholder’s rights and remedies, including covenants:

(1)

establishing the county’s duties relating to:

(A)

the acquisition of property;

(B)

the construction, maintenance, operation, and repair of, and insurance for, a project; and

(C)

custody, safeguarding, and application of money;

(2)

prescribing events that constitute default;

(3)

prescribing terms on which any or all of the bonds become or may be declared due before maturity; and

(4)

relating to the rights, powers, liabilities, or duties that arise on the breach of a county’s duty.

(c)

A bond instrument may contain provisions restricting the individual rights of action of the bondholder.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.

Source: Section 284.046 — Bondholder Rights, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­284.­htm#284.­046 (accessed Mar. 23, 2024).

284.001
Definitions
284.002
Applicability to Certain Counties and Local Government Corporations
284.003
Project Authorized
284.004
Use of County Property
284.005
Conveyance to County
284.006
Federal or State Aid
284.007
Contracts for Historically Underutilized Businesses
284.008
Powers of Commission
284.011
Transfer of Project to Department
284.012
Transfer of Assets
284.013
Conveyance of Ferry Connecting State Highways
284.0031
Other Road, Street, or Highway Projects
284.031
Bonds Authorized
284.032
Tax Bond Election
284.033
Interim Bonds
284.034
Bond Sale to Pay Outstanding Bonds
284.035
Bond Approval and Registration
284.036
Bonds Secured Solely by Revenue
284.037
Revenue Bond Election Not Required
284.038
Revenue Bonds: Ad Valorem Tax for Maintenance and Operation
284.039
Bonds Are Securities
284.040
Effect of Lien
284.041
Refunding Bonds
284.042
Use of Bond Proceeds
284.043
Costs and Expenses
284.044
Depository
284.045
Bonds Tax Free
284.046
Bondholder Rights
284.061
Acquisition of Property
284.062
Ferry
284.063
Contract for Project Construction
284.064
Contract to Operate
284.065
Pooled Projects
284.066
Operating Board
284.067
Projects Extending into Other Counties
284.068
Reconstruction of Closed or Relocated Nontoll Roads, Streets, or Highways
284.069
Tolls and Charges
284.070
Nonpayment of Toll
284.071
Controlled Access to Toll Road
284.072
Promotion of Toll Roads
284.073
Powers and Duties of Receiver
284.074
Tax and Assessment Exemption: Projects
284.201
Applicability of Subchapter
284.202
Order Prohibiting Operation of Motor Vehicle on Toll Project
284.203
Violation of Order
284.204
Administrative Adjudication Hearing Procedure
284.205
Citation or Summons
284.206
Administrative Hearing: Presumption
284.207
Attendance on Hearing
284.208
Decision of Hearing Officer
284.209
Enforcement of Decision
284.210
Appeal of Hearing Officer Decision
284.211
Hearing on Appeal
284.212
Effect of Appeal
284.213
Seizure of Transponders
284.0615
Declaration of Taking by Certain Counties
284.0665
Compensation of Operating Board Members
284.0701
Administrative Costs
284.0702
Prima Facie Evidence
284.0703
Method of Sending Invoice or Notice
284.2031
Civil and Criminal Enforcement: Fine
284.2032
Fine in Certain Counties

Accessed:
Mar. 23, 2024

§ 284.046’s source at texas​.gov