Trust Indenture

Sec. 9061.203. TRUST INDENTURE. A trust indenture created under Section 9061.202, 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. Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.