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Texas Special District Local Laws Code - SDLL § 8163.203. Bond Provisions

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(a) Notwithstanding any other law, district bonds may be sold at a public or private sale according to terms and procedures the board determines.

(b) In connection with the issuance of bonds, the board may:

(1) prescribe the maximum principal amount of bonds to be issued and the rate of interest the bonds may bear in accordance with Section 1204.006, Government Code;

(2) recite the public purpose for which one or more series of bonds are issued;

(3) delegate to an officer or employee of the district the authority to effect the sale of one or more series of bonds;  and

(4) determine the period, not to exceed one year after the date the district adopts the order or resolution delegating the authority under Subdivision (3), during which that authority must be exercised.

(c) In exercising the authority delegated by the board to an officer or employee, the officer or employee may establish the terms and details related to the issuance and sale of the bonds, including:

(1) the form and designation of the bonds;

(2) the principal amount of the bonds and the amount of the bonds to mature in each year;

(3) the dates, price, interest rates, interest payment dates, principal payment dates, and redemption features of the bonds;  and

(4) any other details relating to the issuance and sale of the bonds as specified by the board in the proceedings authorizing the issuance of the bonds.

(d) A finding or determination made by an officer or employee acting under the authority delegated to the officer or employee has the same force and effect as a finding or determination made by the board.

Cite this article: - Texas Special District Local Laws Code - SDLL § 8163.203. Bond Provisions - last updated April 14, 2021 |

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