Sec. 1205.023. PROCEEDING IN REM; CLASS ACTION. An action under this chapter is: (1) a proceeding in rem; and (2) a class action binding on all persons who: (A) reside in the territory of the issuer; (B) own property located within the boundaries of the issuer; (C) are taxpayers of the issuer; or (D) have or claim a right, title, or interest in any property or money to be affected by the public security authorization or the issuance of the public securities.
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