Sec. 285.025. TERMS. (a) Bonds issued under this subchapter must mature serially or otherwise not more than 40 years after they are issued. The bonds may: (1) be sold at a price and under terms that the commissioners court considers the most advantageous reasonably obtainable; and (2) be made callable before maturity at times and prices prescribed in the order authorizing the bonds. (b) The bonds may not bear interest at a rate greater than that allowed by Chapter 1204 , Government Code.
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