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Texas Government Code - GOV'T § 1201.022. Terms of Issuance

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A public security may be:

(1) issued singly or in a series;

(2) made payable in a specified amount or amounts or installments to:

(A) the bearer;

(B) a registered or named person;

(C) the order of a registered or named person;  or

(D) a successor or assign of a registered or named person;

(3) issued to be sold:

(A) at a public or private sale;  and

(B) under the terms determined by the governing body of the issuer to be in the issuer's best interests;  and

(4) issued with other specified characteristics, on additional specified terms, or in a specified manner.

(b) The governing body of a county or municipality that issues bonds that are to be paid from ad valorem taxes may provide that the bonds are to mature serially over a specified number of years, not to exceed 40.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1201.022. Terms of Issuance - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1201-022/

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