Sec. 58.436. CONDITIONS OF PRELIMINARY BONDS. (a) After preliminary bonds have been authorized at an election, the board may order the issuance of the bonds in an amount which is not more than the amount stated in the notice of election.
(b) The bonds may be paid serially or on amortization at any time not more than 10 years from their date.
(c) Although the bonds will be known and designated in the records as preliminary bonds, it is not necessary to make this designation on the bonds.
Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.
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