Texas § LG.281.072 - ADDITIONAL SECURITY
Full text of Texas The Texas Constitution § LG.281.072 — ADDITIONAL SECURITY, with citation guidance and answers to common questions.
§ LG.281.072. ADDITIONAL SECURITY
ADDITIONAL SECURITY. (a) At the board's discretion, the bonds of an authority may be additionally secured by a deed of trust or mortgage lien on part or all of the physical properties of the authority, and franchises, easements, leases, and contracts and rights relating to those properties. The trustee may operate the properties, sell the properties for payment of the bonds or interest on the bonds, and exercise all other powers and authority for the further security of the bonds. (b) The trust indenture, regardless of the existence of the deed of trust or mortgage lien on the properties, may: (1) contain provisions prescribed by the board for the security of the bonds and as preservation of the trust estate and for the modification or amendment of those provisions; (2) condition the right to spend authority money or sell authority property on the approval of a registered professional engineer or architect and provide for the manner of selecting the engineer or architect; and (3) provide for the investment of funds of the authority. (c) A purchaser under a sale under a deed of trust or mortgage lien is the absolute owner of the properties, facilities, and rights purchased and may maintain and operate the properties. Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Frequently Asked Questions About Texas § LG.281.072
What does The Texas Constitution § LG.281.072 cover?
Section LG.281.072 ("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 § LG.281.072?
A common citation format is "The Texas Constitution § LG.281.072" (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 § LG.281.072 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.