Texas § SD.8104.306 - SECURITY FOR BONDS OR NOTES
Full text of Texas The Texas Constitution § SD.8104.306 — SECURITY FOR BONDS OR NOTES, with citation guidance and answers to common questions.
§ SD.8104.306. SECURITY FOR BONDS OR NOTES
SECURITY FOR BONDS OR NOTES. (a) Bonds or notes of the authority and the interest on the bonds or notes may be secured by and payable only from the sources authorized by this chapter. (b) The bonds or notes may be secured by and payable from a pledge of all or part of: (1) the authority's revenues, receipts, or assets; or (2) the revenues of one or more past or future leases or other contracts. (c) A pledge made under this section must be specified: (1) by the resolution authorizing the bonds or notes; or (2) by the trust indenture or other instrument securing the bonds or notes. (d) The lien of the pledge or security instrument is binding against all parties having claims of any kind against the authority, including tort or contract claims, regardless of whether the parties have notice of the lien. (e) A pledge made under this section may reserve to the authority the right, under conditions the pledge specifies, to issue additional bonds or notes that will be on a parity with or subordinate to the bonds or notes then being issued. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019 ), Sec. 1.06, eff. April 1, 2007.
Frequently Asked Questions About Texas § SD.8104.306
What does The Texas Constitution § SD.8104.306 cover?
Section SD.8104.306 ("SECURITY FOR BONDS OR NOTES") 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 § SD.8104.306?
A common citation format is "The Texas Constitution § SD.8104.306" (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 § SD.8104.306 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.