Texas § GV.1505.155 - SECURITY FOR PAYMENT OF OBLIGATIONS
Full text of Texas The Texas Constitution § GV.1505.155 — SECURITY FOR PAYMENT OF OBLIGATIONS, with citation guidance and answers to common questions.
§ GV.1505.155. SECURITY FOR PAYMENT OF OBLIGATIONS
SECURITY FOR PAYMENT OF OBLIGATIONS. (a) A municipality may secure the payment of an obligation issued under this subchapter by: (1) mortgaging the physical property acquired or constructed or to be acquired or constructed and pledging the net revenue derived from the property; or (2) pledging the net revenue derived from the property without a mortgage on the property. (b) A municipality that mortgages the property may provide in the encumbrance for a grant, to a purchaser under sale or foreclosure, of a permit to operate the fish market, subject to all laws then in force regulating the operation of such an industry. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.1505.155
What does The Texas Constitution § GV.1505.155 cover?
Section GV.1505.155 ("SECURITY FOR PAYMENT OF OBLIGATIONS") 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.1505.155?
A common citation format is "The Texas Constitution § GV.1505.155" (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.1505.155 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.