Texas Transportation Code 283.205 – Trust Indenture Permitted
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(a) A bond authorized by this chapter may be secured by a trust indenture between the county and a corporate trustee that is a trust company or bank with the powers of a trust company.
(b) A trust indenture may pledge or assign revenues.
Terms Used In Texas Transportation Code 283.205
- 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.
(c) A trust indenture may not convey or mortgage all or part of the project.