Sec. 1509.205.  ADDITIONAL SECURITY.  (a)  Bonds issued under this subchapter may be additionally secured by:
(1)  an encumbrance on any real property owned by the municipality;
(2)  an encumbrance on any personal property appurtenant to that real property;  or
(3)  a pledge of any portion of a grant, donation, revenue, or income received or to be received from the United States or any other public or private source.
(b)  The governing body of the municipality may authorize the execution of a trust indenture, mortgage, deed of trust, or other instrument as evidence of the encumbrance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.