Sec. 163.067. NONNEGOTIABLE PURCHASE MONEY NOTES. (a) The agency may issue nonnegotiable purchase money notes to acquire land or fuel resources. (b) Nonnegotiable purchase money notes are: (1) payable in installments; (2) secured by the property acquired with the notes or other collateral the agency substitutes; and (3) not a security or agency obligation. (c) Nonnegotiable purchase money notes may be further secured by a promise to issue bonds or bond anticipation notes to pay the purchase money notes.
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