Section 9045.203 - Trust Indenture A trust indenture created under Section 9045.202, 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.Tex. Spec. Dist. Loc. Laws § 9045.203
Added by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 855,Sec. 1.06, eff. 4/1/2017.