Texas § WA.65.504 - ADDITIONAL SECURITY FOR BONDS OR NOTES
Full text of Texas The Texas Constitution § WA.65.504 — ADDITIONAL SECURITY FOR BONDS OR NOTES, with citation guidance and answers to common questions.
§ WA.65.504. ADDITIONAL SECURITY FOR BONDS OR NOTES
ADDITIONAL SECURITY FOR BONDS OR NOTES. (a) The bonds or notes, within the discretion of the board, may be additionally secured by a deed of trust or mortgage lien on all or part of the physical properties of the district, and franchises, easements, water rights, and appropriation permits, leases, and contracts and all rights appurtenant to those properties, vesting in the trustee power to sell the property for payment of the indebtedness, power to operate the property, and all other authority necessary for the further security of the bonds or notes. (b) The trust indenture, regardless of the existence of the deed of trust or mortgage lien on any property, may: (1) include provisions prescribed by the board for the security of the bonds or notes and the preservation of the trust estate; (2) make provision for amendment or modification; (3) condition the right to spend district money or sell district property on approval of a registered professional engineer selected as provided in the trust indenture; and (4) make provision for investment of funds of the district. (c) Any purchaser under a sale under the deed of trust or mortgage lien, if one is given, is absolute owner of the property, facilities, and rights purchased and is entitled to maintain and operate them. Added by Acts 1983, 68th Leg., p. 2448, ch. 435, Sec. 4, eff. Aug. 29, 1983. Amended by Acts 1985, 69th Leg., ch. 447, Sec. 1, eff. Nov. 15, 1985.
Frequently Asked Questions About Texas § WA.65.504
What does The Texas Constitution § WA.65.504 cover?
Section WA.65.504 ("ADDITIONAL 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 § WA.65.504?
A common citation format is "The Texas Constitution § WA.65.504" (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 § WA.65.504 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.