(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.
Texas Legal Code