Sec. 54.108. SALE OF OBLIGATIONS. (a) Obligations issued under this chapter shall be sold at a public or private sale under terms determined by the governing body or the board issuing the obligations to be the most advantageous and reasonably obtainable.
(b) Subsection (a) applies to obligations payable from revenue notwithstanding any restriction in a municipal charter to the contrary.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 20, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle A - Waterways and Ports
Chapter 54 - Harbor and Port Facilities in Certain Municipalities
Section 54.102. Authority of Municipality to Issue Obligations
Section 54.104. Authority of Board to Issue Obligations
Section 54.105. Limitation on Aggregate Amount of Expense Warrants
Section 54.106. Maturity of Obligation
Section 54.108. Sale of Obligations
Section 54.110. Review and Approval of Contracts Relating to Revenue Obligations
Section 54.111. Security for and Payment of Obligations Payable From Revenue
Section 54.112. Use of Certain Proceeds
Section 54.113. Lease or Sale of Port Improvements and Facilities