Sec. 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.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.