Procedure for issuance and sale of bonds will be set by resolution of the board. The chairman of the board and the executive secretary of the board are authorized to work with the bond counsel selected by the board in ascertaining the elements of security permissible under the law, the maturities, option provisions, paying agency provisions, and any related elements, pertaining to the sale of bonds that are acceptable in the market to the end that such elements may be incorporated into the bonds and resolution. The chairman, executive secretary and bond counsel will prepare a draft of the official notice of sale of bonds for the approval of the Attorney General of Texas and subsequently by the board. After the notice of sale is approved, it will be published, either in full or abbreviated form, in the manner prescribed by law, and the board has the right to reject any and all bids received.

Source Note:The provisions of this §175.1 adopted to be effective January 1, 1976; amended to be effective July 28, 2025, 50 TexReg 4969.