Texas Transportation Code

§ 367.063 — SALE OR EXCHANGE OF BONDS

TN § 367.063Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 367. MUNICIPAL TOLL BRIDGES OVER RIO GRANDE · Art. B. ACQUIRING EXISTING BRIDGE; BUILDING REPLACEMENT OR ADDITIONAL BRIDGE

Statute text

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A bond issued under this subchapter may be:

(1)sold for cash at a public or private sale;

(2)issued in exchange for property of any kind or an interest in property of any kind, as the governing body of the municipality determines is necessary and proper to accomplish a purpose of this subchapter; or

(3)issued in exchange for a matured or unmatured bond of the same issue and in the same principal amount.

Legislative history

Added by Acts 1999, 76th Leg., ch. 227, Sec. 25, eff. Sept. 1, 1999.