If the board agrees to purchase political subdivision bonds from the development board that have not been purchased by the development board at the time of the agreement, the board may pay the purchase price for those bonds in exchange for the agreement of the development board to transfer those bonds to the board at the time the development board acquires them.
Tex. Water Code § 20.072
ACQUISITION OF CERTAIN DEVELOPMENT BOARD BONDS
Added by Acts 1987, 70th Leg., ch. 728, 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.