{"data":{"id":"us-tx/tex.-special-district-local-laws-code-9011.260","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 9011.260","heading":"APPOINTMENT OF RECEIVER.","body":"(a) On default or threatened default in the payment of the principal of or interest on bonds issued under this subchapter and payable wholly or partly from revenue, a court may, on petition of the holders of 25 percent of the outstanding bonds, appoint a receiver.\n(b) The receiver may collect and receive all district income, employ and discharge district agents and employees, take charge of money on hand, and manage the affairs of the district without consent or hindrance by the board.\n(c) The court may vest the receiver with any other power or duty the court finds necessary to protect the bondholders.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.12, eff. April 1, 2009.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 6. WATER AND WASTEWATER","SUBTITLE I. WATER CONTROL AND IMPROVEMENT DISTRICTS","CHAPTER 9011. BELL COUNTY WATER CONTROL AND IMPROVEMENT DISTRICT NO. 3","SUBCHAPTER F. BONDS"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9011.htm#9011.260","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"0e80044de811c7c1b90ca743846aeb40bd090d629fe87304fbdc4c1a05f64e3b","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-9011.259","next":"us-tx/tex.-special-district-local-laws-code-9011.261"},"notice":"GroundRules: Original legal text. Not legal advice."}