Texas Health and Safety Code - HEALTH & SAFETY § 262.043. Terms

(1) be sold at a price and under terms that the board considers the most advantageous reasonably obtainable, except that the net effective interest rate computed according to Chapter 1204, Government Code, may not exceed 10 percent a year;

(2) be made callable before maturity at times and prices prescribed in the resolution authorizing the bonds;  and

(3) be made registrable as to principal or as to principal and interest.