Sec. 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.
Structure Texas Statutes
Subtitle G - Turnpikes and Toll Projects
Chapter 367 - Municipal Toll Bridges Over Rio Grande
Subchapter A. General Authority Relating to Toll Bridges
Section 367.001. Applicability of Subchapter
Section 367.003. Authority of Municipality in Relation to Toll Bridge
Section 367.004. Authority of Municipality to Enter Into Contracts
Section 367.005. Authority to Issue Revenue Bonds
Section 367.006. Interim Financing
Section 367.008. Pledge of Revenue
Section 367.009. Additional Security
Section 367.010. Additional Bonds
Section 367.011. Tolls and Charges
Section 367.012. Public Purpose
Section 367.013. Lease, Rental, or Donation of Facility to United States
Section 367.014. Refunding Bonds and Notes
Section 367.015. Sale of Bonds or Notes