Texas § 163.086 ISSUANCE, FORM, AND PROVISIONS OF BONDS.

Texas Statutes

§ 163.086 — ISSUANCE, FORM, AND PROVISIONS OF BONDS.

Texas § 163.086

Code UTUtilities Code

This text of Texas § 163.086 (ISSUANCE, FORM, AND PROVISIONS OF BONDS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Tex. Utilities Code Code Ann. § 163.086 (2026).

Text

Sec. 163.086. ISSUANCE, FORM, AND PROVISIONS OF BONDS.

(a)Agency bonds that are payable from agency revenues or anticipated bond proceeds and the records relating to their issuance must be submitted to the attorney general for examination before delivery.

(b)The bonds:

(1)must mature serially or otherwise not more than 50 years after the date of issuance;

(2)may be made redeemable before maturity at the time and at the price or prices set by the agency; and

(3)may be sold at public or private sale under the terms and for the price the agency determines to be in the best interest of the agency.

(c)The bonds must be signed by the presiding officer or assistant presiding officer of the agency, be attested by the secretary, and bear the seal of the agency. The signatures may be printed o

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Sec. 163.086. ISSUANCE, FORM, AND PROVISIONS OF BONDS. (a) Agency bonds that are payable from agency revenues or anticipated bond proceeds and the records relating to their issuance must be submitted to the attorney general for examination before delivery.
(b) The bonds:
(1) must mature serially or otherwise not more than 50 years after the date of issuance;
(2) may be made redeemable before maturity at the time and at the price or prices set by the agency; and
(3) may be sold at public or private sale under the terms and for the price the agency determines to be in the best interest of the agency.
(c) The bonds must be signed by the presiding officer or assistant presiding officer of the agency, be attested by the secretary, and bear the seal of the agency. The signatures may be printed on the bonds if authorized by the agency, and the seal may be impressed or printed on the bonds. The agency may adopt or use for any purpose the signature of an individual who has been an officer of the agency, regardless of whether the individual has ceased to be an officer at the time the bonds are delivered to the purchaser.