Sec. 383.023.  TERMS.  Bonds issued under this chapter must mature serially or otherwise not more than 40 years after they are issued.  The bonds may:
(1)  bear interest at a rate and be sold at a price or under terms that the governing body of the issuer determines to be the most advantageous reasonably obtainable; 
(2)  be made callable before maturity at times and prices prescribed in the resolution authorizing the bonds; 
(3)  be in coupon form;  and
(4)  be registrable as to principal or as to principal and interest.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.