Text of section effective on April 01, 2023
Sec. 8511.0709. ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING BONDS OR TRUST INDENTURE. (a) The resolution authorizing the bonds or the trust indenture further securing the bonds may specify additional provisions that constitute a contract between the authority and its bondholders.
(b) The board has full discretion in providing for the additional provisions, including the authority to provide for a corporate trustee or receiver to take possession of authority facilities if the authority defaults in fulfilling the covenants made in the resolution or trust indenture.
Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle G - River Authorities
Chapter 8511 - Nueces River Authority
Subchapter G. Bonds, Borrowed Money, and Grants
Section 8511.0701. Borrowing Money; Grants
Section 8511.0703. Power to Issue Bonds
Section 8511.0704. Form of Bonds
Section 8511.0706. Election for Bonds Payable From Ad Valorem Taxes
Section 8511.0707. Trust Indenture
Section 8511.0708. Additional Bonds
Section 8511.0709. Additional Provisions in Resolution Authorizing Bonds or Trust Indenture