Texas Transportation Code

§ 284.046 — BONDHOLDER RIGHTS

TN § 284.046Title 6. ROADWAYS · Part D. ROAD LAWS RELATING TO PARTICULAR COUNTIES · Ch. 284. CAUSEWAYS, BRIDGES, TUNNELS, TURNPIKES, FERRIES, AND HIGHWAYS IN CERTAIN COUNTIES · Art. B. BOND PROVISIONS

Statute text

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(a)In addition to all other rights by mandamus or other court proceeding, a holder or trustee of a bond issued under this chapter may enforce the holder's rights against the county, the county's employees, an operating board, or an agent or employee of the operating board and is entitled to:

(1)require the county and the board to impose and collect tolls and charges sufficient to carry out any agreement contained in the bond instrument; and

(2)apply for and obtain the appointment of a receiver for the project.

(b)A bond instrument may contain provisions for the protection and enforcement of a bondholder's rights and remedies, including covenants:

(1)establishing the county's duties relating to:

(A)the acquisition of property;

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Legislative history

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