Texas § GV.1509.155 - ADDITIONAL SECURITY
Full text of Texas The Texas Constitution § GV.1509.155 — ADDITIONAL SECURITY, with citation guidance and answers to common questions.
§ GV.1509.155. ADDITIONAL SECURITY
ADDITIONAL SECURITY. (a) Bonds issued under this subchapter may be secured additionally by an encumbrance on part or all of the physical property of the garbage reclamation project and each right relating to that property, vesting in the trustee the power to: (1) operate the property; (2) sell the property to pay the debt; or (3) take any other action to secure the bonds. (b) Regardless of an encumbrance on the property, a trust indenture on the property may: (1) contain any provision that the governing body of the municipality prescribes for the security of the bonds and the preservation of the trust estate; (2) provide for amendment or modification of the trust indenture; and (3) provide for investment of revenue from the garbage reclamation project. (c) A purchaser under a sale under the encumbrance of the property: (1) is the absolute owner of the property and the rights purchased; and (2) may maintain and operate the property. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Frequently Asked Questions About Texas § GV.1509.155
What does The Texas Constitution § GV.1509.155 cover?
Section GV.1509.155 ("ADDITIONAL SECURITY") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.1509.155?
A common citation format is "The Texas Constitution § GV.1509.155" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.1509.155 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.