Sec. 8508.0259. ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING OBLIGATIONS OR TRUST INDENTURE. (a) The resolution authorizing obligations or the trust indenture further securing obligations may specify additional provisions that constitute a contract between the authority and the owners of those obligations.
(b) The board may provide for the additional provisions, including a corporate trustee or receiver provided by the authority to take possession of authority facilities in the event of the authority's default in fulfilling the covenants.
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.03, eff. April 1, 2021.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle G - River Authorities
Chapter 8508 - Sulphur River Basin Authority
Subchapter F. Obligations Relating to Borrowed Money or Grants
Section 8508.0251. Loans and Grants
Section 8508.0253. Power to Issue Bonds or Other Obligations
Section 8508.0254. Refunding Bonds
Section 8508.0255. Form of Obligations
Section 8508.0257. Trust Indenture
Section 8508.0258. Additional Obligations
Section 8508.0259. Additional Provisions in Resolution Authorizing Obligations or Trust Indenture