Sec. 283.102.  MANAGEMENT OF PROJECT.  (a)  A bond instrument may allow the project to be managed and controlled by a board of trustees while the bonds issued are outstanding.
(b)  The bond instrument in providing for a board of trustees must:
(1)  name no more than five board members;
(2)  provide the manner of appointment;  and
(3)  specify the powers and duties of the board.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.