Terms of Issuance

Sec. 8512.0505. TERMS OF ISSUANCE. Authority bonds may be: (1) sold for cash; (2) issued on terms the board determines in exchange for property of any kind, or any property interest, that the board considers necessary or convenient for the corporate purpose for which the bonds are issued; or (3) issued in exchange for like principal amounts of other matured or unmatured authority obligations. Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.02, eff. April 1, 2027. Text of section effective on April 01, 2027