A district may sell to a municipality, and the municipality may buy, district property only if the purchase price paid, when added to other applicable money of the district, is sufficient to provide for the payment of:

1. (1) all outstanding district bonds, including interest on the bonds to:

   1. (A) the maturity dates of the bonds; or
   2. (B) the dates the district sets for redemption of the bonds;
2. (2) any required redemption premium; and
3. (3) any applicable fee of the bank of payment.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.