Tex. Local Government Code § 303.077
This is the official text of Tex. Local Government Code § 303.077, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
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§ 303.077. PERFECTION OF SECURITY INTEREST.
Official statutory text
(a) This section applies only to a security interest granted by:
(1) a corporation as security for its bonds;
(2) a credit agreement pledged as security for the obligations of the corporation on the bonds; or
(3) a credit agreement issued or entered into in connection with the bonds.
(b) Notwithstanding Section 9.109(d), Business & Commerce Code, and without any other filing, a security interest is perfected until payment of the bonds and credit agreement, with the effect specified by Chapter 9, Business & Commerce Code, when the bonds are registered by the comptroller and the proceedings authorizing the bonds are filed with the comptroller.
(1) a corporation as security for its bonds;
(2) a credit agreement pledged as security for the obligations of the corporation on the bonds; or
(3) a credit agreement issued or entered into in connection with the bonds.
(b) Notwithstanding Section 9.109(d), Business & Commerce Code, and without any other filing, a security interest is perfected until payment of the bonds and credit agreement, with the effect specified by Chapter 9, Business & Commerce Code, when the bonds are registered by the comptroller and the proceedings authorizing the bonds are filed with the comptroller.
Status: in_force · Read it on the official government site
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