Sec. 174.302. SECURITY FOR PAYMENT OF BONDS

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(a) To secure payment of district bonds or notes, the district may:
(1) encumber and pledge all or part of the revenue of its commuter rail facilities; and
(2) encumber all or part of the property of the commuter rail facilities and everything pertaining to them that is acquired or to be acquired.
(b) Unless prohibited by the resolution or indenture relating to outstanding bonds or notes, a district may encumber separately any item of property.

Added by Acts 2009, 81st Leg., R.S., Ch. 85 , Sec. 2.04, eff. April 1, 2011.

                    
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