Sec. 20.102. CONDITIONS FOR ISSUANCE OF BONDS. (a) Bonds may be issued as various series and issues.
(b) Bonds issued by the authority may mature serially or otherwise not later than 50 years after the date on which they are issued.
(c) The bonds may bear interest at a rate or rates determined in accordance with the resolution or order authorizing the issuance of the bonds but not to exceed the net effective interest rate authorized by Chapter 1204, Government Code.
(d) Rates of interest on bonds may be fixed, variable, floating, adjustable, or otherwise.
Added by Acts 1987, 70th Leg., ch. 728, Sec. 1, eff. June 20, 1987. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.417, eff. Sept. 1, 2001.
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