Sec. 453.303. BOND TERMS. (a) A transit department's bonds are fully negotiable.
(b) The transit department may make the bonds redeemable before maturity at the price and subject to the terms and conditions that are provided in the resolution authorizing the bonds.
(c) A revenue bond indenture may limit a power of the transit department provided by Sections 453.101-453.108 or 453.109(b) as long as the bond containing the indenture is outstanding and unpaid.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Subtitle K - Mass Transportation
Chapter 453 - Municipal Transit Departments
Section 453.302. Power to Issue Bonds
Section 453.305. Approval; Registration
Section 453.306. Incontestability
Section 453.307. Security Pledged
Section 453.308. Pledge of Revenue Limited
Section 453.309. Refunding Bonds