Texas Statutes
Subchapter E. Bonds for Acquisition of Property by Municipality Operating Toll Bridge Over Rio Grande
Section 1509.205. Additional Security

Sec. 1509.205. ADDITIONAL SECURITY. (a) Bonds issued under this subchapter may be additionally secured by:
(1) an encumbrance on any real property owned by the municipality;
(2) an encumbrance on any personal property appurtenant to that real property; or
(3) a pledge of any portion of a grant, donation, revenue, or income received or to be received from the United States or any other public or private source.
(b) The governing body of the municipality may authorize the execution of a trust indenture, mortgage, deed of trust, or other instrument as evidence of the encumbrance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

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