Tex. Local Government Code § 501.157
DEFAULT ON AGREEMENT; ENFORCEMENT
Texas · Texas Local Government Code · Status: effective
Cite this
- Citation
- Tex. Local Government Code § 501.157, DEFAULT ON AGREEMENT; ENFORCEMENT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/694017
- Permanent ID
ys:prov:694017@1- SHA-256
0a2808332f5e7bd5fbe973a36ec02d9e4b1db49a72e5539088a32e7d9883f19c
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
An agreement relating to a project must provide that if a default occurs in the payment of the principal of or the interest or premium on the bonds or in the performance of any agreement contained in a proceeding, mortgage, or instrument, the payment or performance may be enforced by:
(1) mandamus; or
(2) the appointment of a receiver in equity with the power to:
(A) charge and collect rents, purchase price payments, and loan payments; and
(B) apply the revenue from the project in accordance with the resolution, mortgage, or instrument.