Sec. 8506.205. TERMS OF ISSUANCE. Authority bonds may be:
(1) sold for cash;
(2) issued on terms the board determines in exchange for property of any kind, or any interest in property, that the board considers necessary or convenient for the corporate purpose for which the bonds are issued; or
(3) issued in exchange for like principal amounts of other obligations of the authority, whether matured or unmatured.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.05, eff. April 1, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle G - River Authorities
Chapter 8506 - Upper Colorado River Authority
Subchapter E. Obligations Relating to Borrowed Money or Grants
Section 8506.201. Loans and Grants
Section 8506.202. State Pledge Regarding Rights and Remedies of Bondholders
Section 8506.203. Obligation Payable From Revenue
Section 8506.204. Power to Issue Revenue Bonds
Section 8506.205. Terms of Issuance
Section 8506.206. Deposit of Proceeds
Section 8506.207. Resolution Provisions
Section 8506.208. Default Procedures
Section 8506.209. Power of Authority to Purchase Bonds Issued by Authority