Sec. 55.514. SALE OF BONDS. (a) After the bonds are issued and registered by the comptroller, the board shall offer the bonds for sale and shall sell them on the best terms and for the best possible price.
(b) After all the bonds are sold, the board shall pay to the district depository all money received from the sale.
(c) The board may exchange the bonds for property to be acquired by purchase under contract or in payment of the contract price for work to be done for the use and benefit of the district.
Acts 1971, 62nd Leg., p. 469, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 55 - Water Improvement Districts
Subchapter L. Issuance of Bonds
Section 55.497. Necessary Vote
Section 55.498. Ordering Issuance of Bonds
Section 55.499. Amount of Bonds
Section 55.500. Limitation of Indebtedness
Section 55.501. Special Interest Procedure
Section 55.502. Formal Requirements of Bonds
Section 55.504. Suit to Determine Validity of Bonds or Contract
Section 55.505. Notice to Attorney General
Section 55.507. Right of Persons to Intervene and Participate in Suit
Section 55.509. Judgment Rendered
Section 55.510. Court's Decree
Section 55.513. County Clerk's Fees
Section 55.515. Emergency Loans and Interim Bonds
Section 55.517. Adjustment of Tax Levy
Section 55.518. Interest and Sinking Fund
Section 55.519. Investment of Sinking Funds
Section 55.520. Refunding Bonds
Section 55.521. Registering Refunding Bonds
Section 55.523. Issuing Refunding Bonds Which Place a Greater Burden on the District
Section 55.524. Law Governing Refunding Bonds
Section 55.525. Limiting District's Power to Incur Debt
Section 55.526. Notice of Limitation of Debt
Section 55.527. Limitation Election
Section 55.528. Operating Under a Limitation on Power to Incur Debt
Section 55.529. Issuing Bonds in Excess of Debt Limitation
Section 55.530. Additional Projects for the District
Section 55.531. Issuance of Additional Bonds
Section 55.532. Funds to Repair Damaged Improvements
Section 55.533. Preferred Lien in Favor of the United States