Sec. 17.968. SALE OF POLITICAL SUBDIVISION BONDS BY THE BOARD; USE OF PROCEEDS

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(a) The board may sell or dispose of political subdivision bonds purchased with money in the fund to any person, including the Texas Water Resources Finance Authority, and the board, in such manner as it shall determine, may apply the proceeds of the sale of political subdivision bonds held by the board to:
(1) pay debt service on water financial assistance bonds issued under this subchapter; or
(2) provide financial assistance to political subdivisions for any one or more of the purposes authorized by Section 49-d-8, Article III, Texas Constitution.
(b) The board shall sell the political subdivision bonds at the price and under the terms that it determines to be reasonable.

Added by Acts 1997, 75th Leg., ch. 1010, Sec. 5.03.

                    
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