Requirement To State Characteristics of Bonds

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.