Texas Transportation Code

§ 283.205 — TRUST INDENTURE PERMITTED

TN § 283.205Title 6. ROADWAYS · Part D. ROAD LAWS RELATING TO PARTICULAR COUNTIES · Ch. 283. CAUSEWAYS, BRIDGES, AND TUNNELS IN CERTAIN COUNTIES · Art. C. PROVISIONS RELATING TO BONDS

Statute text

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(a)A bond authorized by this chapter may be secured by a trust indenture between the county and a corporate trustee that is a trust company or bank with the powers of a trust company.

(b)A trust indenture may pledge or assign revenues.

(c)A trust indenture may not convey or mortgage all or part of the project.

Legislative history

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.