(a) A development corporation shall sell at a public or private sale the bonds at the price it determines.(b) The net effective interest rate on the bonds, computed according to Chapter 1204, Government Code, may not exceed the maximum annual interest rate established for business loans of $250,000 or more in this state.Tex. Health and Safety Code § 221.064
Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.249, eff. 9/1/2001. Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. 9/1/1989.