The procedure for the issuance and sale of bonds will be set by resolution of the Board. The chairman and the executive secretary of the Board are authorized to work with the bond counsel and financial advisor selected by the Board in ascertaining the elements of security permissible under the law, maturities, option provisions, paying agency provisions, and all other matters pertaining to the bonds which affect the bonds' acceptability in the market, to the end that such elements may be incorporated into the bonds and resolution. The chairman, executive secretary of the Board, and bond counsel will prepare a draft of the official notice of sale of bonds. After the notice of sale is approved, it will be published, either in full or abbreviated form, in the manner prescribed by law. The Board has the right to reject any and all bids received.

Source Note: The provisions of this §176.3 adopted to be effective November 24, 1997, 22 TexReg 11092.