Tex. Gov't Code § 1201.022 · Subchapter B. ISSUANCE AND APPROVAL OF PUBLIC SECURITY
TERMS OF ISSUANCE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 769, Sec. 1, eff. Sept. 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1201.htm
- Text hash
- sha256 1ffa07483ea249380e677422bf47d19ea37595be097dcdc00f0635326eb6bf09
- 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.