reglab/housing_qa huggingface dataset:
TX Govt Code § 1202.007 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1202 - Examination and Registration of Public Securities|Section 1202.007. Exemptions; Construction of Exemptions

Sec. 1202.007.  EXEMPTIONS;  CONSTRUCTION OF EXEMPTIONS.  (a)  The following are exempt from the approval and registration requirements of this chapter:(1)  a public security that is:(A)  not subject to mandatory renewal or renewal at the option of any person, including the issuer, a holder, or a bearer; and(B)  payable only out of:(i)  current revenues or taxes collected in the year the public security is issued; or(ii)  the proceeds of other public securities;(2)  a certificate in evidence of benefit assessments;(3)  a certificate of obligation, including a claim or account that represents an undivided interest in a certificate of obligation, that under Subchapter C, Chapter 271, Local Government Code, an issuer is authorized to deliver to a contractor;(4)  a time warrant issued under Chapter 252 or 262, Local Government Code;(5)  a public security authorized by Chapter 1371;(6)  a lease, lease-purchase, or installment sale obligation, except as provided by other law;(7)  a public security that by rule the attorney general exempts because it is not practical to require approval before the public security's issuance; and(8)  a nonnegotiable note issued under Section 45.108, Education Code, in a principal amount that does not exceed $1 million.(b)  The exemptions provided by Subsection (a) shall be narrowly construed.(c)  An issuer that issues a public security that is exempt under Subsection (a) may submit the public security to the attorney general as provided by this chapter.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.002, eff. Sept. 1, 2001.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1018 (H.B. 2610), Sec. 3, eff. September 1, 2013.|
TX Govt Code § 1202.008 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1202 - Examination and Registration of Public Securities|Section 1202.008. Collection and Report of Information on Public Securities of Political Subdivisions

Sec. 1202.008.  COLLECTION AND REPORT OF INFORMATION ON PUBLIC SECURITIES OF POLITICAL SUBDIVISIONS.  (a)  In reviewing public securities under this chapter, the attorney general may collect, in the form required by the Bond Review Board, information on public securities issued by a municipal corporation or political subdivision of this state.(b)  The information must include:(1)  the terms of the public securities;(2)  the debt service payable on the public securities;  and(3)  other information required by the Bond Review Board.(c)  The attorney general shall send the information to the Bond Review Board for inclusion in the board's report of debt statistics under Section 1231.062.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|
TX Govt Code § 1204.001 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1204 - Interest Rate|Section 1204.001. Definitions

Sec. 1204.001.  DEFINITIONS.  In this chapter:(1)  "Floating rate public security" means a public security or a portion of a public security that bears a rate of interest determined in accordance with a clearly stated formula, computation, or method, under which the net interest cost of the security or portion at any future date cannot be determined on the date of delivery of the security or portion.(2)  "Public agency" means:(A)  this state or a department, board, agency, district, municipal corporation, political subdivision, body politic and corporate, or instrumentality of this state;  or(B)  a nonprofit corporation or not-for-profit entity that is an instrumentality of or is acting on behalf of an entity described by Paragraph (A).(3)  "Public security" means a bond, note, or other obligation that a public agency is authorized to issue.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|
TX Govt Code § 1204.002 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1204 - Interest Rate|Section 1204.002. Applicability

Sec. 1204.002.  APPLICABILITY.  (a)  A provision of this chapter concerning the sale price of a public security or the maximum rate of interest that a public security may bear applies to any public security without regard to a contrary provision in another law or a charter.(b)  A provision of this chapter concerning the sale price of a public security does not apply to a public security whose maximum rate of interest or maximum net effective interest rate is, at the time the public security is issued, specifically set by the constitution of this state.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|
TX Govt Code § 1204.003 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1204 - Interest Rate|Section 1204.003. Computation of Public Security Years

Sec. 1204.003.  COMPUTATION OF PUBLIC SECURITY YEARS.  (a)  Public security years are computed for each separate public security that is part of an issue or series of public securities by dividing the principal amount at par value of the public security by 100 and multiplying the resulting quotient by:(1)  the number of years from the date interest begins to accrue on the public security to the date the security is scheduled to mature;  or(2)  for a floating rate public security, the number of years from the date net interest cost begins to accrue on the public security to the earlier of:(A)  the date the security is scheduled to mature;  or(B)  any date interest on the security is computed.(b)  If any portion of an issue or series of public securities is subject to a mandatory redemption before the scheduled maturity that at the time of delivery of the public securities is scheduled to occur on a specific date or dates, the public security years are computed as if the face amount of public securities required to be redeemed on each earlier date were scheduled to mature on that earlier date.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|
TX Govt Code § 1204.004 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1204 - Interest Rate|Section 1204.004. Computation of Net Interest Cost

Sec. 1204.004.  COMPUTATION OF NET INTEREST COST.  (a)  In this section:(1)  "Discount" means an amount equal to the principal amount at par value of an issue or series of public securities plus any accrued interest to the date of delivery minus the total sum of money paid to the public agency.(2)  "Premium" means an amount equal to the total amount of money paid to the public agency for an issue or series of public securities minus:(A)  the principal amount at par value of the issue or series;  and(B)  any accrued interest to the date of delivery.(b)  The net interest cost of an issue or series of public securities is the total of all interest to become payable on the issue or series through the final scheduled maturity date of the issue or series, plus any discount or minus any premium included in the price paid for the issue or series.(c)  The net interest cost of an issue or series of floating rate public securities is the total of all interest to accrue from the date of delivery and become payable on the issue or series through any date net interest cost is computed on the issue or series:(1)  plus, in the case of a discount, the figure obtained by multiplying the dollar amount of the discount by a fraction, the numerator of which is the aggregate number of public security years to the date of the net interest cost computation and the denominator of which is the aggregate number of public security years to the scheduled final maturity date of the floating rate public securities;  or(2)  minus, in the case of a premium, the figure obtained by multiplying the dollar amount of the premium by a fraction, the numerator of which is the aggregate number of public security years to the date of the net interest cost computation and the denominator of which is the aggregate number of public security years to the scheduled final maturity date of the floating rate public securities.(d)  If any portion of an issue or series of public securities is subject to a mandatory redemption before the scheduled maturity that at the time of delivery of the public securities is scheduled to occur on a specific date or dates:(1)  the net interest cost is computed as if the face amount of public securities required to be redeemed on each earlier date were scheduled to mature on that earlier date;(2)  the net interest cost includes any redemption premium required to be paid on any mandatory redemption date;  and(3)  any other form of compensation, whether due on an optional or mandatory prepayment or redemption, may not be included in the net interest cost.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|
TX Govt Code § 1204.005 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1204 - Interest Rate|Section 1204.005. Computation of Net Effective Interest Rate

Sec. 1204.005.  COMPUTATION OF NET EFFECTIVE INTEREST RATE.  (a)  The net effective interest rate of an issue or series of public securities is computed by dividing the net interest cost of the issue or series by the aggregate total number of public security years of all public securities that comprise the issue or series and expressing the result as a rate of interest in percent per year.(b)  In computing the net effective interest rate of an issue or series of public securities that includes one or more public securities on which interest accruing before the maturity of the public security is compounded, the public security years with reference to each separate compounding public security are increased by an amount obtained by dividing the amount of interest that is periodically compounded by 100 and multiplying the resulting quotient by the number of years from the date on which interest begins to accrue on the amount that is being compounded to:(1)  the scheduled date for payment of the amount that is being compounded;  or(2)  with respect to a floating rate public security, the date interest on the public security is next computed, if that date is earlier than the scheduled date for payment of the amount that is being compounded.(c)  For purposes of this chapter, interest compounded under Subsection (b) is considered as principal.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|
TX Govt Code § 1204.006 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1204 - Interest Rate|Section 1204.006. Maximum Interest Rate

Sec. 1204.006.  MAXIMUM INTEREST RATE.  (a)  The maximum rate of interest for any issue or series of public securities, including an issue or series that is issued in exchange for property, labor, services, materials, or equipment under another law, is a net effective interest rate of 15 percent.(b)  Except as provided by Section 1204.007, a public agency may issue and sell any issue or series of its public securities at any price and bearing interest at any rate or rates determined by the agency's governing body that does not exceed the maximum rate under Subsection (a).|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|
TX Govt Code § 1204.007 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1204 - Interest Rate|Section 1204.007. Maximum Interest Rate for Certain Public Securities

Sec. 1204.007.  MAXIMUM INTEREST RATE FOR CERTAIN PUBLIC SECURITIES.  (a)  Public securities authorized by an election held before April 15, 1981, may be issued, may be sold, and may bear interest as provided by Section 1204.006, except that public securities authorized by an election required by the constitution of this state may not be issued at an interest rate greater than the rate authorized at that election unless an additional election is held at which the issuance of the public securities at a price and at a rate authorized by Section 1204.006 is approved.(b)  A public agency shall hold and give notice of an additional election under Subsection (a) in the manner provided by law applicable to the election that authorized the public securities.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|
TX Govt Code § 1208.001 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1208 - Security for Public Securities|Section 1208.001. Definitions

Sec. 1208.001.  DEFINITIONS.  In this chapter:(1)  "Credit agreement" means any agreement authorized by a governing body of an issuer in connection with or related to the authorization, issuance, sale, resale, security, exchange, payment, purchase, remarketing, or redemption of a public security, interest on a public security, or both.  The term includes any agreement relating to public securities that is defined or described in state law as a "credit agreement" or a "bond enhancement agreement."(2)  "Issuer" and "public security" have the meanings assigned by Section 1202.001.(3)  "Security agreement" means a resolution, order, ordinance, or agreement that creates a security interest with respect to a public security or a credit agreement.(4)  "Security interest" means a pledge of, lien on, or other interest in taxes, revenue, receipts, funds, or other personal property or fixtures that secures payment or performance of public securities or a credit agreement.|Added by Acts 2001, 77th Leg., ch. 24, Sec. 1, eff. July 1, 2001.|
TX Govt Code § 1208.002 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1208 - Security for Public Securities|Section 1208.002. Pledge of Security

Sec. 1208.002.  PLEDGE OF SECURITY.  (a)  A security interest created by an issuer by means of a security agreement:(1)  is valid and effective according to the terms of the security agreement as to all property of the governmental unit stated to be covered by the security agreement, whether:(A)  held at the time the security agreement is entered into or adopted;  or(B)  later acquired or received;(2)  except as provided by Subsection (c), is perfected from the time the security agreement is entered into or adopted continuously through the termination of the security interest, in accordance with its terms, without physical delivery or transfer of control of the property, filing of a document, or another act;(3)  ranks as to priority in order of the time of perfection, except as otherwise provided by the security agreement;  and(4)  may be enforced as provided by the security agreement or the law that authorizes the security agreement.(b)  The rights of a lien creditor as defined by Section 9.102(a), Business & Commerce Code, are subordinate to a perfected security interest described by Subsection (a).(c)  A security interest in real property is perfected when the security agreement, a memorandum of the security agreement, or other instrument creating the security interest is duly recorded in the real property records of the county in which the property is located.(d)  This section does not:(1)  create or exempt an issuer from a duty to submit public securities to the attorney general for approval and registration by the comptroller;  or(2)  authorize an issuer to enter into or adopt a security agreement.|Added by Acts 2001, 77th Leg., ch. 24, Sec. 1, eff. July 1, 2001.|
TX Govt Code § 1208.003 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle A - General Provisions|Chapter 1208 - Security for Public Securities|Section 1208.003. Preemption

Sec. 1208.003.  PREEMPTION.  This chapter is a statute described by Section 9.109(c)(2), Business & Commerce Code, and an issuer is considered to be a governmental unit for purposes of that section.|Added by Acts 2001, 77th Leg., ch. 24, Sec. 1, eff. July 1, 2001.|
TX Govt Code § 1252.001 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government|Chapter 1252 - Revocation of Authority to Issue Bonds|Section 1252.001. Election to Revoke Authority

Sec. 1252.001.  ELECTION TO REVOKE AUTHORITY.  The commissioners court of a county or the governing body of a municipality may order an election to determine whether to revoke the authority to issue bonds that:(1)  compose all or part of an issue authorized by an earlier election;  and(2)  have not as of the date of the order been sold or delivered.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|
TX Govt Code § 1252.002 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government|Chapter 1252 - Revocation of Authority to Issue Bonds|Section 1252.002. Election Procedure

Sec. 1252.002.  ELECTION PROCEDURE.  (a)  An election to revoke bonds under this chapter shall be held in the same manner as the election originally authorizing the bonds.(b)  In an election held under Subsection (a), the ballot shall be printed to permit voting for or against the proposition:  "The revocation of bonds."(c)  If a revocation election covers bonds of more than one voted issue, there shall be a separate proposition for each voted issue.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|
TX Govt Code § 1252.003 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government|Chapter 1252 - Revocation of Authority to Issue Bonds|Section 1252.003. Revocation and Cancellation of Bonds

Sec. 1252.003.  REVOCATION AND CANCELLATION OF BONDS.  (a)  If the proposition to revoke the bonds receives the number of votes required by the statute under which the bonds were originally voted, the authority to issue the bonds is revoked.(b)  If the bonds have not been printed, a certified copy of the order or resolution showing that the authority to issue the bonds has been revoked and the minutes relating to the order or resolution shall be sent to the attorney general.(c)  If the bonds have been approved by the attorney general and registered by the comptroller, a certified copy of the order or resolution and the minutes relating to the order or resolution shall be sent to the attorney general and comptroller.(d)  If the bonds have been printed, the commissioners court or municipal governing body shall destroy the bonds by canceling and burning the bonds.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|
TX Govt Code § 1253.001 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government|Chapter 1253 - General Obligation Bonds Issued by Political Subdivisions|Section 1253.001. Definition

Sec. 1253.001.  DEFINITION.  In this chapter, "political subdivision" means a county, municipality, school district, junior college district, other special district, or other subdivision of state government.|Added by Acts 2019, 86th Leg., R.S., Ch. 726 (H.B. 440), Sec. 3, eff. September 1, 2019.|
TX Govt Code § 1253.002 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government|Chapter 1253 - General Obligation Bonds Issued by Political Subdivisions|Section 1253.002. Limitation on Authority to Issue General Obligation Bonds

Sec. 1253.002.  LIMITATION ON AUTHORITY TO ISSUE GENERAL OBLIGATION BONDS.  (a)  In this section, "personal property" has the meaning assigned by Section 1.04, Tax Code.(b)  Notwithstanding any other provision of law, a political subdivision may not issue general obligation bonds to purchase, improve, or construct one or more improvements to real property, to purchase one or more items of personal property, or to do both, if the weighted average maturity of the issue of bonds exceeds 120 percent of the reasonably expected weighted average economic life of the improvements and personal property financed with the issue of bonds.|Added by Acts 2019, 86th Leg., R.S., Ch. 726 (H.B. 440), Sec. 3, eff. September 1, 2019.|
TX Govt Code § 1253.003 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government|Chapter 1253 - General Obligation Bonds Issued by Political Subdivisions|Section 1253.003. Use of Unspent General Obligation Bond Proceeds

Sec. 1253.003.  USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS.  (a)  A political subdivision other than a school district may use the unspent proceeds of issued general obligation bonds only:(1)  for the specific purposes for which the bonds were authorized;(2)  to retire the bonds; or(3)  for a purpose other than the specific purposes for which the bonds were authorized if:(A)  the specific purposes are accomplished or abandoned; and(B)  a majority of the votes cast in an election held in the political subdivision approve the use of the proceeds for the proposed purpose.(b)  The election order and the notice of election for an election described by Subsection (a)(3)(B) must state the proposed purpose for which the bond proceeds are to be used.(c)  A political subdivision must hold an election described by Subsection (a)(3)(B) in the same manner as an election to issue bonds in the political subdivision.|Added by Acts 2019, 86th Leg., R.S., Ch. 726 (H.B. 440), Sec. 3, eff. September 1, 2019.|
TX Govt Code § 1301.001 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle D - Provisions Applicable to Securities Issued by Counties|Chapter 1301 - County Bonds|Section 1301.001. Issuance and Authorization

Sec. 1301.001.  ISSUANCE AND AUTHORIZATION.  (a)  The commissioners court of a county may issue bonds authorized under Subtitle A and Chapter 1251 to:(1)  build a county courthouse or jail;(2)  purchase suitable sites in the county and to construct buildings on the sites for homes or schools for dependent or delinquent children;(3)  establish county facilities for needy or indigent persons in the county;(4)  purchase and construct bridges for public purposes in the county or to cross a stream serving as the county's boundary line;(5)  improve and maintain the public roads in the county; or(6)  restore or maintain a county courthouse.(b)  The commissioners court may issue bonds only if a majority of the voters at an election to authorize bonds vote in favor of the proposition to authorize the bonds.(c)  Bonds to purchase or construct a bridge and to improve and maintain a public road may be submitted by the commissioners court and voted on as one proposition.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.Amended by: Acts 2021, 87th Leg., R.S., Ch. 358 (S.B. 186), Sec. 1, eff. June 7, 2021.|
TX Govt Code § 1301.002 (2021)
2021 Texas Statutes|Government Code|Title 9 - Public Securities|Subtitle D - Provisions Applicable to Securities Issued by Counties|Chapter 1301 - County Bonds|Section 1301.002. Signatures; Registration by County Treasurer

Sec. 1301.002.  SIGNATURES;  REGISTRATION BY COUNTY TREASURER.  (a)  Before delivery, a bond issued under this chapter must be:(1)  signed by the county judge;(2)  countersigned by the county clerk;  and(3)  registered by the county treasurer.(b)  The county treasurer shall keep an account of the amount of principal and interest paid on each bond.|Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.|