Texas Special District Local Laws Code § 9061.203 Trust Indenture

Sec. 9061.203. TRUST INDENTURE. A trust indenture created under Section 9061.202, regardless of the existence of a deed of trust or mortgage lien on the property, may:

(1) contain provisions prescribed by the board for the security of the bonds and the preservation of the trust estate;

(2) provide for amendment or modification of the trust indenture;

(3) provide for the issuance of bonds to replace lost or mutilated bonds;

(4) condition the right to spend district money or sell district property on the approval of a licensed engineer selected as provided by the trust indenture; and

(5) provide for the investment of district money.

Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.


Text of section effective on April 01, 2017


Section: Previous  9061.057  9061.101  9061.102  9061.103  9061.104  9061.105  9061.151  9061.152  9061.153  9061.154  9061.155  9061.201  9061.202  9061.203  9061.204  Next

Last modified: September 28, 2016