SECTION 53.200. Miscellaneous

(a) Any agreement relating to any project shall contain a provision that in the event of a default in the payment of the principal of or the interest or premium on the bonds or in the performance of any agreement contained in such proceedings, mortgage, or instrument, such payment and performance may be enforced by mandamus or by the appointment of a receiver in equity with power to charge and collect rents, purchase price payments and loan payments, and to apply the revenues from the project in accordance with such resolution, mortgage, or instrument.

(b) If a corporation finances projects in enterprise zones designated under Texas Civil Statutes, Article 5190.7, the Texas Enterprise Zone Act, as amended, please contact the Public Finance Section for additional transcript requirements.

Source Note: The provisions of this §53.200 adopted to be effective November 14, 1990, 15 TexReg 6289.