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Tex. Special District Local Laws Code § 8511.0709

ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING BONDS OR TRUST INDENTURE

Texas · Texas Special District Local Laws Code · Status: effective

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Tex. Special District Local Laws Code § 8511.0709, ADDITIONAL PROVISIONS IN RESOLUTION AUTHORIZING BONDS OR TRUST INDENTURE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/618996
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(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.