Sec. 8504.303. HOLDER OF OBLIGATION MAY COMPEL PERFORMANCE. (a) A holder of obligations issued under this chapter or of coupons originally attached to the obligations may enforce and compel the board's performance of all duties required by this chapter, including:
(1) setting and collecting reasonable and sufficient fees or charges for the use of the authority's improvements and facilities;
(2) segregating the income and revenue of the improvements and facilities; and
(3) applying the income and revenue under this chapter.
(b) The holder of the obligations or coupons may act under Subsection (a):
(1) at law or in equity; and
(2) by an action, mandamus, or other proceeding.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.04, eff. April 1, 2015.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle G - River Authorities
Chapter 8504 - Lower Neches Valley Authority
Subchapter G. Obligations Relating to Borrowed Money
Section 8504.301. General Power to Borrow Money
Section 8504.302. Covenants for Marketability
Section 8504.303. Holder of Obligation May Compel Performance
Section 8504.304. Holder of Obligation Entitled to Administrator or Receiver
Section 8504.305. Additional Security for Obligation: Mortgage and Encumbrance
Section 8504.306. Sale Under Mortgage or Encumbrance