Sec. 58.393. MATURITY DATE OF LOAN. (a) If taxes are pledged to pay for the loan, the loan shall mature not later than the following April 1.
(b) If preliminary or construction bonds are pledged to pay the loan, the loan shall mature not later than six months from the date it is made.
Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.
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