Section 1201.022 - Terms of Issuance(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: (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.Tex. Gov't. Code § 1201.022
Amended by Acts 2001, 77th Leg., ch. 769, Sec. 1, eff. 9/1/2001.Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.