Sec. 54.512. SALE OR EXCHANGE OF BONDS. (a) The board shall sell the bonds on the best terms and for the best possible price but none of the bonds may be sold for less than 95 percent of face value.
(b) The district may exchange bonds for property acquired by purchase or in payment of the contract price of work done or services performed for the use and benefit of the district.
Added by Acts 1971, 62nd Leg., p. 797, 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