Tex. Water Code § 55.502 · Subchapter L. ISSUANCE OF BONDS
FORMAL REQUIREMENTS OF BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board shall issue bonds in the name of the district, and the president shall sign the bonds, the secretary shall attest to them, and the district's seal shall be impressed on them.
(b) The bonds shall be issued in denominations of not less than $100 nor more than $1,000 each.
(c) The bonds shall be payable annually or semiannually and shall mature not more than 40 years after they are issued.
(d) The bonds may be issued to mature in serial form at any date which does not come later than the date specified in the notice of election and may bear any rate of interest which is not more than the rate of interest specified in the notice.
(e) The terms of the bonds shall include the time, place, manner, and conditions of payment and the interest rate which are ordered by the board.
Notes and commentary — not statutory text
History
Acts 1971, 62nd Leg., p. 466, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.55.htm
- Text hash
- sha256 0a974c2943e095a982e6cbc45847bf0880c779df10ef10793a59677c22ae85d1
- 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.