Current as of April 14, 2021 | Updated by FindLaw Staff
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A trust indenture created under Section 9026.202, regardless of the existence of a deed of trust or mortgage lien on the property, may:
(1) contain provisions prescribed by the board for the security of the bonds and the preservation of the trust estate;
(2) provide for amendment or modification of the trust indenture;
(3) provide for the issuance of bonds to replace lost or mutilated bonds;
(4) condition the right to spend district money or sell district property on the approval of a licensed engineer selected as provided by the trust indenture; and
(5) provide for the investment of district money. (Acts 61st Leg., R.S., Ch. 261, Sec. 12 (part).)
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 9026.203. Trust Indenture - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-9026-203/
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