Texas Utilities Code 163.086 – Issuance, Form, and Provisions of Bonds
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(a) Agency bonds that are payable from agency revenues or anticipated bond proceeds and the records relating to their issuance must be submitted to the attorney general for examination before delivery.
(b) The bonds:
(1) must mature serially or otherwise not more than 50 years after the date of issuance;
(2) may be made redeemable before maturity at the time and at the price or prices set by the agency; and
(3) may be sold at public or private sale under the terms and for the price the agency determines to be in the best interest of the agency.
Terms Used In Texas Utilities Code 163.086
- Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
- Signature: includes the mark of a person unable to write, and "subscribe" includes the making of such a mark. See Texas Government Code 312.011
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
(c) The bonds must be signed by the presiding officer or assistant presiding officer of the agency, be attested by the secretary, and bear the seal of the agency. The signatures may be printed on the bonds if authorized by the agency, and the seal may be impressed or printed on the bonds. The agency may adopt or use for any purpose the signature of an individual who has been an officer of the agency, regardless of whether the individual has ceased to be an officer at the time the bonds are delivered to the purchaser.