Sec. 56.204. BONDS: REQUISITES. (a) Bonds shall be issued in the name of the district, signed by the board president, and attested by the board secretary, and each bond shall have the seal of the district affixed to it.

(b) The bonds shall be issued in denominations and shall bear interest as authorized by the board.

(c) The terms of the bonds shall include the time, places, manner, and conditions of payment and the rate of interest determined and ordered by the board.

(d) The bonds shall be paid not later than 40 years from the date they are issued.

Acts 1971, 62nd Leg., p. 516, ch. 58, Sec. 1, eff. Aug. 30, 1971. Amended by Acts 2001, 77th Leg., ch. 298, Sec. 8, eff. Sept. 1, 2001.