Sec. 54.502. FORM OF BONDS. (a) A district may issue its bonds in various series or issues.
(b) Bonds shall mature serially or otherwise not more than 40 years from their date and shall bear interest at any rate permitted by the Constitution and laws of the state, all as shall be determined by the board.
(c) A district's bonds and interest coupons, if any, shall be investment securities under the terms of Chapter 8 of the Business & Commerce Code and may be issued registrable as to principal or as to both principal and interest and shall or may be made redeemable before maturity, at the option of the district or may contain a mandatory redemption provision all as may be provided by the board. A district's bonds may be issued in the form, denominations, and manner and under the terms, conditions, and details, and shall be signed and executed, as provided by the board in the resolution or order authorizing their issuance.
Added by Acts 1971, 62nd Leg., p. 795, ch. 84, Sec. 1.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 54 - Municipal Utility Districts
Subchapter F. Issuance of Bonds
Section 54.501. Issuance of Bonds
Section 54.503. Manner of Repayment of Bonds
Section 54.504. Additional Security for Bonds
Section 54.505. Election on Tax Bonds
Section 54.507. Notice of Bond Election
Section 54.510. Provisions of Bonds
Section 54.512. Sale or Exchange of Bonds
Section 54.514. Refunding Bonds
Section 54.5161. Review of Bond Projects by Counties
Section 54.518. Mandamus by Bondholders
Section 54.520. Cancellation of Unsold Bonds
Section 54.521. Use of Bond Proceeds to Pay Certain Interest