Sec. 1501.207.  SALE OF DISTRICT PROPERTY.  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)  all outstanding district bonds, including interest on the bonds to:
(A)  the maturity dates of the bonds;  or
(B)  the dates the district sets for redemption of the bonds;
(2)  any required redemption premium;  and
(3)  any applicable fee of the bank of payment.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.