Sec. 58.396. LOANS ACCOMPLISHED BY SALE OF DISTRICT BONDS. If the loan is secured by the sale of district bonds, the district may enter into an obligation to be conditioned conformably with the usages of investment banking to repurchase the bonds within the five-year period immediately following the date of the loan.
Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.
Section: Previous 58.352 58.353 58.391 58.392 58.393 58.394 58.395 58.396 58.397 58.398 58.399 58.431 58.432 58.433 58.434 NextLast modified: September 28, 2016