Authority bonds may be:(1) sold for cash;(2) issued on terms the board determines in exchange for property of any kind, or any interest in property, that the board considers necessary or convenient for the corporate purpose for which the bonds are issued; or(3) issued in exchange for like principal amounts of other obligations of the authority, whether matured or unmatured. Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.05, eff. April 1, 2017.
Texas Legal Code