Sec. 257.119. SALE OF BONDS. (a) The commissioners courts of the counties included in whole or part in a road district established under this subchapter, at a joint meeting held in the county having the greatest population, shall advertise bonds issued under this subchapter for sale in an advertisement or notice published in a newspaper of general circulation published in the district not later than the 10th day before the date set for the sale.
(b) The commissioners courts shall convene in joint meeting in the county having the greatest population on the date specified for the sale in the notice to consider bids for the purchase of the bonds. The courts may reject any bid.
(c) The commissioners courts shall sell some or all of the bonds at that joint meeting at a price permitted by Chapter 1204, Government Code. The purchase money shall be deposited with the road district's treasurer or depository to the credit of the available road fund of the road district.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.384, eff. Sept. 1, 2001.
Structure Texas Statutes
Subtitle C - County Roads and Bridges
Subchapter C. Road District in Adjoining Counties
Section 257.101. Road District Authorized; Nature of District
Section 257.102. Petition to Establish Road District
Section 257.103. Change in Roads Designated in Petition
Section 257.104. Notice of Hearing on Petition
Section 257.105. Hearing on Petition
Section 257.106. Order of Election to Establish District
Section 257.107. Election to Establish District
Section 257.108. Ex Officio District Directors
Section 257.109. Meetings of Commissioners or Directors
Section 257.110. District Treasurer or Depository
Section 257.111. Purchase of Improved Roads
Section 257.112. Bonds and Tax Authorized
Section 257.113. Order for Bond Election
Section 257.114. Notice of Bond Election
Section 257.115. Declaration of Bond Election Results
Section 257.116. Orders to Issue Bonds and Levy Tax
Section 257.117. Levy of Bond Tax
Section 257.118. Issuance of Bonds
Section 257.119. Sale of Bonds
Section 257.120. Bond Proceeds
Section 257.121. Application of County Bond Laws