Texas Government Code 1501.205 – Notice of Intention to Issue Bonds
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(a) A municipality may not issue bonds under this subchapter until the mayor of the municipality gives notice of the municipality’s intention to issue the bonds.
(b) The notice must:
(1) be published in a newspaper of general circulation in the municipality once each week for two consecutive weeks, with the first publication being before the 14th day before the date the governing body of the municipality proposes to adopt an ordinance authorizing the issuance of the bonds; and
(2) state the maximum:
(A) amount of bonds to be issued;
(B) interest rate of the bonds; and
(C) maturity of the bonds.
Terms Used In Texas Government Code 1501.205
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Week: means seven consecutive days. See Texas Government Code 311.005