Sec. 1501.207. SALE OF DISTRICT PROPERTY. A district may sell to a municipality, and the municipality may buy, district property only if the purchase price paid, when added to other applicable money of the district, is sufficient to provide for the payment of:
(1) all outstanding district bonds, including interest on the bonds to:
(A) the maturity dates of the bonds; or
(B) the dates the district sets for redemption of the bonds;
(2) any required redemption premium; and
(3) any applicable fee of the bank of payment.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle J - Specific Authority for Municipalities to Issue Securities
Chapter 1501 - Obligations for Municipal Utilities
Section 1501.201. Applicability of Subchapter
Section 1501.203. Authority to Issue Bonds
Section 1501.204. Pledge of Revenue
Section 1501.205. Notice of Intention to Issue Bonds
Section 1501.206. Petition; Election
Section 1501.207. Sale of District Property
Section 1501.208. Interest and Sinking Fund of District
Section 1501.209. Investment of Money in Interest and Sinking Fund
Section 1501.210. Payment of Outstanding Bonds
Section 1501.211. Ordinance Specifying Date of Passage of Title; Abolition of District