Sec. 1474.053. REQUIREMENT TO STATE CHARACTERISTICS OF BONDS. (a) Except as provided by Subsection (b), the petition for the election, the election order, and the notice of the election must state:
(1) the amount of bonds to be issued;
(2) the rate of interest of the bonds;
(3) the times at which interest on the bonds is payable; and
(4) the date of maturity of the bonds.
(b) The election order and the notice of the election may provide that:
(1) the bonds may bear interest at a rate to be set by the commissioners court;
(2) any interest may be paid at times set by the commissioners court; and
(3) the bonds may mature at the times set by the commissioners court.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
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