Texas Transportation Code 364.050 – Trust Indenture
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(a) Bonds issued under this chapter may be secured by a trust indenture between the county and a corporate trustee that is a trust company or a bank that has the powers of a trust company.
(b) The trust indenture may:
(1) pledge or assign the tolls, charges, and revenues from the operation of the toll bridge or bridges; or
(2) mortgage all or part of the toll bridge or bridges.
Terms Used In Texas Transportation Code 364.050
- 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.