Sec. 152.202. SALE OR EXCHANGE OF OBLIGATIONS. Revenue bonds, notes, or other obligations issued under this subchapter may be:
(1) sold for cash at a public or private sale;
(2) issued on terms determined by the board of directors of the river authority in exchange for property or an interest in property the board of directors considers necessary or convenient for a purpose described by Section 152.201;
(3) issued in exchange for other matured or unmatured obligations of the river authority in the same principal amounts; or
(4) sold for cash in the amount equal to the principal amount of the obligations to:
(A) this state or an agency of this state;
(B) the United States; or
(C) an agency or corporation created or designated by this state or the United States.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999.
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