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Texas Natural Resources Code - Section 161.114. Payment And Maturity Of Bonds

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§ 161.114. PAYMENT AND MATURITY OF BONDS.  (a) The bonds 
shall be payable as provided by the board and shall mature serially 
or otherwise not later than 40 years from their date.
	(b)  Bonds previously issued shall mature according to their 
provisions.     
	(c)  The board shall determine the medium of payment for both 
principal of and interest on the bonds.
	(d)  The board at its own option may make the bonds 
redeemable or subject to tender for purchase before maturity at the 
price and under the terms and conditions fixed by the board in the 
resolution providing for the issuance and sale of the bonds.

Acts 1977, 65th Leg., p. 2659, ch. 871, art. I, § 1, eff. Sept. 1, 
1977.  Amended by Acts 1993, 73rd Leg., ch. 242, § 1.06, eff. 
Aug. 30, 1993.

Last modified: August 10, 2007