Sec. 221.064. SALE. (a) A development corporation shall sell at a public or private sale the bonds at the price it determines.
(b) The net effective interest rate on the bonds, computed according to Chapter 1204, Government Code, may not exceed the maximum annual interest rate established for business loans of $250,000 or more in this state.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.249, eff. Sept. 1, 2001.
Structure Texas Statutes
Subtitle A - Financing, Constructing, Regulating, and Inspecting Health Facilities
Chapter 221 - Health Facilities Development Act
Section 221.061. Authority to Issue; Use of Proceeds
Section 221.062. Information Filed With Sponsoring Entity
Section 221.065. Refunding Bonds
Section 221.066. Source of Payment; Bonds Not General Obligation