(a) A transit department's bonds are fully negotiable.(b) The transit department may make the bonds redeemable before maturity at the price and subject to the terms and conditions that are provided in the resolution authorizing the bonds.(c) A revenue bond indenture may limit a power of the transit department provided by Sections 453.101-453.108 or 453.109(b) as long as the bond containing the indenture is outstanding and unpaid. Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Texas Legal Code