Regulación sobre la emisión de bonos municipales en Texas

1.101 et seq., Business & Commerce Code). The ordinance or order authorizing the issuance of the bonds must specify: (1) whether the bonds are issued registrable as to principal alone or as to both principal and interest; (2) whether the bonds are redeemable before maturity; (3) the form, denomination, and manner of issuance; (4) the terms, conditions, and other details applying to the bonds including the price, terms, and interest rates on the bonds; and (5) the manner of sale of the bonds. (c) The ordinance or order authorizing the issuance of the bonds may specify that the proceeds from the sale of the bonds: (1) be used to pay interest on the bonds during and after the period of acquisition or construction of an improvement financed through the sale of the bonds; (2) be used for creating a reserve fund for payment of the principal of and interest on the bonds and for creating other funds; and (3) may be placed in time deposit or invested, until needed. Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 2001, 77th Leg., ch. 1341, Sec. 22, eff. June 16, 2001. Statute text rendered on: 1/18/2025 - 2226 - LOCAL GOVERNMENT CODE