TERMS — Texas Code § ED.52.83
Texas Code § ED.52.83 — TERMS. Reproduced from the official The Texas Constitution, with a citation summary, verification link, and related provisions.
§ ED.52.83. TERMS
TERMS. (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. Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5,
Source: official Texas text · Last verified 2026-08-27
At a glance
- Citation: The Texas Constitution § ED.52.83
- Jurisdiction: Texas
- Code: The Texas Constitution
- Subject: TERMS
- Text: transcribed from the official source (verify below)
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It addresses "TERMS". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
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