Sec. 56.204. BONDS: REQUISITES. (a) Bonds shall be issued in the name of the district, signed by the board president, and attested by the board secretary, and each bond shall have the seal of the district affixed to it.
(b) The bonds shall be issued in denominations and shall bear interest as authorized by the board.
(c) The terms of the bonds shall include the time, places, manner, and conditions of payment and the rate of interest determined and ordered by the board.
(d) The bonds shall be paid not later than 40 years from the date they are issued.
Acts 1971, 62nd Leg., p. 516, ch. 58, Sec. 1, eff. Aug. 30, 1971. Amended by Acts 2001, 77th Leg., ch. 298, Sec. 8, eff. Sept. 1, 2001.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 56 - Drainage Districts
Subchapter F. Issuance of Bonds and Notes
Section 56.201. Authority to Issue Bonds
Section 56.202. Issuance of Bonds
Section 56.203. Record Book for Bonds
Section 56.204. Bonds: Requisites
Section 56.205. Bonds: Approval
Section 56.209. Use of Unsold Bonds for Maintenance Purposes
Section 56.210. Refunding Bonds
Section 56.211. Refunding Bond Election
Section 56.212. Approval and Issuance of Refunding Bonds
Section 56.213. Tax Anticipation Notes; Bond Anticipation Notes