(a) To secure payment of district bonds or notes, the district may:
- (1) encumber and pledge all or part of the revenue of its commuter rail facilities; and
- (2) encumber all or part of the property of the commuter rail facilities and everything pertaining to them acquired or to be acquired.
- (b) Unless prohibited by the resolution or indenture relating to outstanding bonds or notes, a district may encumber separately any item of property.
Added by Acts 2009, 81st Leg., R.S., Ch. 85 (S.B. 1540), Sec. 2.04, eff. April 1, 2011.