(a) Bonds issued under this chapter may be secured by a trust indenture between the county and a corporate trustee that is a trust company or a bank that has the powers of a trust company.
(b) The trust indenture may:
(1) pledge or assign the tolls, charges, and revenues from the operation of the toll bridge or bridges; or
(2) mortgage all or part of the toll bridge or bridges.

Terms Used In Texas Transportation Code 364.050

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Trustee: A person or institution holding and administering property in trust.