Sec. 283.208. RIGHTS OF BONDHOLDERS. (a) A bond issued under this chapter creates and grants a lien on bond proceeds in favor of a bondholder until the bond is paid. (b) In addition to other legal remedies, a bondholder may enforce the bondholder's rights against: (1) a county and its employees; and (2) a board, including an agent or employee, created to operate the project. (c) A bondholder's rights include the right to: (1) require the county or board to: (A) impose and collect sufficient tolls and other charges to carry out agreements in the bond instrument; and (B) perform an agreement, covenant, or duty provided in the bond instrument; and (2) apply for and obtain the appointment of a receiver for the project.
‹ Prev All Texas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.