{"data":{"id":"us-tx/tex.-government-code-1501.156","jurisdiction":"us-tx","citation":"Tex. Government Code § 1501.156","heading":"SALE OF CERTIFICATES.","body":"(a) A municipality may sell certificates of indebtedness issued under this subchapter:\n(1) at a public or private sale;\n(2) on terms the governing body of the municipality determines; and\n(3) with an option to prepay principal as the governing body of the municipality considers advisable.\n(b) A municipality shall sell the certificates for cash.\nAdded by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.","path":["GOVERNMENT CODE","TITLE 9. PUBLIC SECURITIES","SUBTITLE J. SPECIFIC AUTHORITY FOR MUNICIPALITIES TO ISSUE SECURITIES","CHAPTER 1501. OBLIGATIONS FOR MUNICIPAL UTILITIES","SUBCHAPTER D. CERTIFICATES OF INDEBTEDNESS TO FINANCE JUDGMENTS OR SETTLEMENTS RELATED TO MUNICIPAL NATURAL GAS SYSTEM"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1501.htm#1501.156","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"eafc4ea8d55831bf2a2033065aa9a9d1517bfce300182e76dbf970df7e18d35f","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-1501.155","next":"us-tx/tex.-government-code-1501.157"},"notice":"GroundRules: Original legal text. Not legal advice."}