{"data":{"id":"us-tx/tex.-special-district-local-laws-code-8509.0309","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 8509.0309","heading":"TRUST INDENTURE.","body":"(a) District bonds, including refunding bonds, that are not payable wholly from ad valorem taxes may be additionally secured by a trust indenture. The trustee may be a bank with trust powers located inside or outside the state.\n(b) A trust indenture, regardless of the existence of a deed of trust or mortgage lien on property, may:\n(1) provide for the security of the bonds and the preservation of the trust estate as prescribed by the board;\n(2) provide for amendment or modification of the trust indenture;\n(3) provide for the issuance of bonds to replace lost or mutilated bonds;\n(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\n(5) provide for the investment of district money.\nAdded by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.03, eff. April 1, 2021.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 6. WATER AND WASTEWATER","SUBTITLE G. RIVER AUTHORITIES","CHAPTER 8509. PALO DURO WATER DISTRICT","SUBCHAPTER G. BONDS"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8509.htm#8509.0309","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"683fb649c91a07375d2ec7a983723484fb75686568675d8f989d5a025c1b534b","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-8509.0308","next":"us-tx/tex.-special-district-local-laws-code-8509.0310"},"notice":"GroundRules: Original legal text. Not legal advice."}