Tex. Special District Local Laws Code § 8104.308
ADDITIONAL SECURITY
Texas · Texas Special District Local Laws Code · Status: effective
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- Citation
- Tex. Special District Local Laws Code § 8104.308, ADDITIONAL SECURITY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/610486
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Full text
At the discretion of the authority and the Baytown City Council, bonds or notes issued under this chapter may be secured additionally by a mortgage or a deed of trust lien or security interest on facilities or assets of the authority and all real property, franchises, easements, leases, contracts, and rights appurtenant to the properties that vest in the trustee the power to:
(1) sell the facilities or assets for payment of the debt;
(2) operate the facilities or assets; and
(3) take any other action to secure the bonds or notes.