Texas Transportation Code - Section 283.208. Rights Of Bondholders
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§ 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, § 1, eff. Sept. 1, 1995.
Section: 283.201 283.202 283.203 283.204 283.205 283.206 283.207 283.208 283.209 283.210 284.001 284.002 284.003 284.004 284.005
Last modified: August 10, 2007
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