Sec. 772.526. FORM OF BONDS. (a) A district may issue bonds in various series or issues.
(b) Bonds may mature serially or otherwise not more than 25 years after the bonds' date of issuance. Bonds shall bear interest at any rate permitted by state law.
(c) A district's bonds and interest coupons:
(1) are investment securities under Chapter 8, Business & Commerce Code;
(2) may be issued registrable as to principal or to both principal and interest; and
(3) may be made redeemable before maturity or contain a mandatory redemption provision at the option of the district.
(d) A district may issue bonds in the form, denomination, and manner and under the terms and conditions provided by the board in the resolution authorizing the bonds' issuance. The bonds must be signed and executed as provided by the board in the resolution.
Added by Acts 2013, 83rd Leg., R.S., Ch. 552 (S.B. 628), Sec. 1, eff. September 1, 2013.
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