Sec. 283.102. MANAGEMENT OF PROJECT. (a) A bond instrument may allow the project to be managed and controlled by a board of trustees while the bonds issued are outstanding.
(b) The bond instrument in providing for a board of trustees must:
(1) name no more than five board members;
(2) provide the manner of appointment; and
(3) specify the powers and duties of the board.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
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