Sec. 262.043. TERMS. (a) Revenue bonds must mature serially or otherwise not more than 40 years after they are issued. (b) Revenue bonds may: (1) be sold at a price and under terms that the board considers the most advantageous reasonably obtainable, except that the net effective interest rate computed according to Chapter 1204 , Government Code, may not exceed 10 percent a year; (2) be made callable before maturity at times and prices prescribed in the resolution authorizing the bonds; and (3) be made registrable as to principal or as to principal and interest.
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