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Tex. Transportation Code § 172.302

SECURITY FOR PAYMENT OF BONDS

Texas · Texas Transportation Code · Status: effective

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Tex. Transportation Code § 172.302, SECURITY FOR PAYMENT OF BONDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/568249
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(a) To secure payment of district bonds, the district may: (1) encumber and pledge all or part of the revenue of its rail facilities; and (2) encumber all or part of the property of the rail facilities and everything pertaining to them acquired or to be acquired. (b) Unless prohibited by the resolution or indenture relating to outstanding bonds, a district may encumber separately any item of property.