Tex. Educ. Code § 52.83 · Subchapter F. ADDITIONAL BONDS
TERMS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided by this subchapter, the board by resolution may provide the terms and name of the bonds.
(b) The bonds must be dated and bear interest at a rate or rates prescribed by the board in accordance with the resolution for the issuance of the bonds, except that the rate may not exceed the maximum net effective rate allowed by law. The resolution may provide for:
(1) any type of rate, including a fixed, variable, floating, or adjustable rate; and
(2) any arrangement for the periodic determination of interest rates, including a formula, index, or contract.
(c) The bonds must mature serially or otherwise not later than the 40th year after the date of their issuance.
(d) The bonds may have a different face value from other bonds issued by the board.
Notes and commentary — not statutory text
History
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 1. Amended by Acts 1993, 73rd Leg., ch. 571, Sec. 12, eff. Aug. 30, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.52.htm
- Text hash
- sha256 49e0c52f6f5fc68e4f6665de309e0f5d9d0b9a1276cd8989aceff3cce5981ef2
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.