A bond issued under this subchapter may be:(1) sold for cash at a public or private sale;(2) issued in exchange for property of any kind or an interest in property of any kind, as the governing body of the municipality determines is necessary and proper to accomplish a purpose of this subchapter; or(3) issued in exchange for a matured or unmatured bond of the same issue and in the same principal amount. Added by Acts 1999, 76th Leg., ch. 227, Sec. 25, eff. Sept. 1, 1999.
Texas Legal Code