Texas Transportation Code 367.063 – Sale or Exchange of Bonds
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Terms Used In Texas Transportation Code 367.063
- Property: means real and personal property. See Texas Government Code 311.005
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.