Texas Education Code 45.151 – Definitions
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Terms Used In Texas Education Code 45.151
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Trustee: A person or institution holding and administering property in trust.
In this subchapter:
(1) “District” means any independent school district.
(2) “Stadium” means the structural and associated facilities designed for staging and holding athletic contests and other events.
(3) “Authority” means an athletic stadium authority created under this subchapter.
(4) “Board of directors” means the board of directors of the authority.
(5) “Bond resolution” means the resolution authorizing the issuance of revenue bonds.
(6) “Trust indenture” means the mortgage, deed of trust, or other instrument pledging revenues of or creating a mortgage lien on properties, or both, to secure the revenue bonds issued by the authority.
(7) “Trustee” means the trustee under the trust indenture.