Sale Or Exchange of Bonds

Sec. 367.063. SALE OR EXCHANGE OF BONDS. A bond issued under this subchapter may be: (1) sold for cash at a public or private sale; (2) issued in exchange for property of any kind or an interest in property of any kind, as the governing body of the municipality determines is necessary and proper to accomplish a purpose of this subchapter; or (3) issued in exchange for a matured or unmatured bond of the same issue and in the same principal amount. Added by Acts 1999, 76th Leg., ch. 227, Sec. 25, eff. Sept. 1, 1999.