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Tex. Transportation Code § 283.208

RIGHTS OF BONDHOLDERS

Texas · Texas Transportation Code · Status: effective

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Tex. Transportation Code § 283.208, RIGHTS OF BONDHOLDERS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/569475
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(a) A bond issued under this chapter creates and grants a lien on bond proceeds in favor of a bondholder until the bond is paid. (b) In addition to other legal remedies, a bondholder may enforce the bondholder's rights against: (1) a county and its employees; and (2) a board, including an agent or employee, created to operate the project. (c) A bondholder's rights include the right to: (1) require the county or board to: (A) impose and collect sufficient tolls and other charges to carry out agreements in the bond instrument; and (B) perform an agreement, covenant, or duty provided in the bond instrument; and (2) apply for and obtain the appointment of a receiver for the project.