Sec. 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, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Subtitle D - Road Laws Relating to Particular Counties
Chapter 283 - Causeways, Bridges, and Tunnels in Certain Counties
Subchapter C. Provisions Relating to Bonds
Section 283.201. Bond Proceeds
Section 283.202. Costs and Expenses
Section 283.203. Source of Repayment
Section 283.204. Depository for Proceeds and Revenues
Section 283.205. Trust Indenture Permitted
Section 283.206. Bond Provisions
Section 283.207. Bond Approval and Registration