Texas Transportation Code - TRANSP § 453.307. Security Pledged

(a) To secure the payment of a transit department's bonds, the transit department may:

(b) Under Subsection (a)(3), the transit department may, subject to the terms of the bond indenture or resolution authorizing the issuance of the bonds, encumber a separate item of the transit department system and acquire, use, hold, or contract for any property by lease, chattel mortgage, or other conditional sale, including an equipment trust transaction.