Texas Special District Local Laws Code 8509.0314 – Limitation On Rights of Bondholders
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Terms Used In Texas Special District Local Laws Code 8509.0314
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Property: means real and personal property. See Texas Government Code 311.005
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
The resolution authorizing the bonds or the trust indenture securing the bonds may limit or qualify the rights of the holders of less than all of the outstanding bonds payable from the same source to institute or prosecute litigation affecting the district’s property or income.