(a) A municipality may sell certificates of indebtedness issued under this subchapter:
- (1) at a public or private sale;
- (2) on terms the governing body of the municipality determines; and
- (3) with an option to prepay principal as the governing body of the municipality considers advisable.
- (b) A municipality shall sell the certificates for cash.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.