Section 283.206 - Bond Provisions(a) A bond authorized by this chapter shall contain the following clause: "The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation."(b) A bond instrument may contain provisions: (1) that restrict individual rights of action of a bondholder;(2) that detail the rights and remedies of a bondholder and a trustee;(3) to protect and enforce as reasonable the rights and remedies of a bondholder, including covenants detailing the duties of the county in:(A) acquiring property and constructing, maintaining, operating, repairing, and insuring the project; and(B) maintaining custody of the bond proceeds and revenues and safeguarding and applying the funds; and(4) to secure as reasonable a bondholder, including covenants detailing: (A) an event that constitutes an event of default;(B) terms and conditions that would or could result in an acceleration of the bond maturity date; and(C) rights, liabilities, powers, and duties that arise because of a breach by the county.Tex. Transp. Code § 283.206
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.