{"data":{"id":"us-tx/tex.-government-code-1505.155","jurisdiction":"us-tx","citation":"Tex. Government Code § 1505.155","heading":"SECURITY FOR PAYMENT OF OBLIGATIONS.","body":"(a) A municipality may secure the payment of an obligation issued under this subchapter by:\n(1) mortgaging the physical property acquired or constructed or to be acquired or constructed and pledging the net revenue derived from the property; or\n(2) pledging the net revenue derived from the property without a mortgage on the property.\n(b) A municipality that mortgages the property may provide in the encumbrance for a grant, to a purchaser under sale or foreclosure, of a permit to operate the fish market, subject to all laws then in force regulating the operation of such an industry.\nAdded by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.","path":["GOVERNMENT CODE","TITLE 9. PUBLIC SECURITIES","SUBTITLE J. SPECIFIC AUTHORITY FOR MUNICIPALITIES TO ISSUE SECURITIES","CHAPTER 1505. OBLIGATIONS FOR COASTAL MUNICIPALITIES FOR COASTAL MATTERS","SUBCHAPTER D. OBLIGATIONS FOR FISH MARKETS BY CERTAIN COASTAL MUNICIPALITIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1505.htm#1505.155","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"12dae62f5edae9b17b73fe0bff0472f3b03dec82d40301c12babea8e4fba73a8","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-1505.154","next":"us-tx/tex.-government-code-1505.156"},"notice":"GroundRules: Original legal text. Not legal advice."}