Texas Government Code - GOV'T § 1505.055. Authority to Borrow From United States

(1) the property and facilities of the project acquired or to be acquired;

(2) the revenue and income from the operation of the project acquired or to be acquired; and

(3) anything relating to the project acquired or to be acquired.

(1) encumber the net revenue and income from the operation of all projects; and

(2) provide in the encumbrance for a grant, to a purchaser under sale or foreclosure, of a franchise to operate the encumbered project for a term not to exceed 20 years from the date of purchase, subject to all laws regulating the same then in force.