Texas Water Code 63.167 – Form of Bonds
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(a) The bonds shall be issued in the manner that other bonds are issued under this chapter, and the amount of the bonds may not be more than the cost of the improvements estimated by the engineer.
(b) The bonds shall be issued in the name of the district and shall be signed by the president of the commission and attested by the secretary with the seal of the district attached.
Terms Used In Texas Water Code 63.167
- Board: means the navigation board. See Texas Water Code 63.001
- Commission: means the board of navigation and canal commissioners. See Texas Water Code 63.001
- District: means a self-liquidating navigation district. See Texas Water Code 63.001
- 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 shall be issued in the denominations and payable at the times, not more than 40 years, considered most expedient by the board. Interest shall be payable annually or semiannually.