Sec. 283.208. RIGHTS OF BONDHOLDERS. (a) A bond issued under this chapter creates and grants a lien on bond proceeds in favor of a bondholder until the bond is paid.
(b) In addition to other legal remedies, a bondholder may enforce the bondholder's rights against:
(1) a county and its employees; and
(2) a board, including an agent or employee, created to operate the project.
(c) A bondholder's rights include the right to:
(1) require the county or board to:
(A) impose and collect sufficient tolls and other charges to carry out agreements in the bond instrument; and
(B) perform an agreement, covenant, or duty provided in the bond instrument; and
(2) apply for and obtain the appointment of a receiver for the project.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
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