An authority may purchase its bonds at a price not greater than the principal and accrued interest of the bonds. Bonds purchased by an authority shall be canceled.
Tex. Loc. Gov't Code § 392.089
PURCHASE OF BONDS BY AUTHORITY
Known as the Housing Authorities Law
The act spans §§ 392.001 to 392.104 (67 sections).
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.