Tex. Transp. Code Section 367.009
Additional Security

(a)

Bonds issued under this subchapter may be additionally secured by:

(1)

a mortgage or deed of trust on any real property owned by the municipality; or

(2)

a chattel mortgage or lien on any personal property appurtenant to that real property.

(b)

The governing body of the municipality may authorize the execution of a trust indenture, mortgage, deed of trust, or other form of encumbrance as evidence of the debt.

(c)

The municipality may pledge to the payment of the bonds all or part of any grant, donation, revenue, or income received or to be received from the United States or any other public or private source whether under an agreement or otherwise.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 25, eff. Sept. 1, 1999.

Source: Section 367.009 — Additional Security, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­367.­htm#367.­009 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 367.009’s source at texas​.gov