reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter C. Obligations › Section 1232.117. State Debt Not Created

Sec. 1232.117.  STATE DEBT NOT CREATED.  (a)  An obligation issued under this chapter is not a debt of the state or any state agency, political corporation, or political subdivision of the state and is not a pledge of the faith and credit of any of them.  A bond is payable solely from revenue as provided by this chapter.
(b)  An obligation issued under this chapter must contain on its face a statement to the effect that:
(1)  neither the state nor a state agency, political corporation, or political subdivision of the state is obligated to pay the principal of or interest on the obligation except as provided by this chapter;  and
(2)  neither the faith and credit nor the taxing power of the state or any state agency, political corporation, or political subdivision of the state is pledged to the payment of the principal of or interest on the obligation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter C. Obligations › Section 1232.118. Order or Resolution Authorizing Issuance of Obligations

Sec. 1232.118.  ORDER OR RESOLUTION AUTHORIZING ISSUANCE OF OBLIGATIONS.  (a)  An order or resolution of the board authorizing the issuance of obligations, including refunding obligations, may provide for the flow of funds and the establishment and maintenance of the interest and sinking fund, the reserve fund, and other funds.
(b)  The order or resolution may:
(1)  prohibit the issuance of additional obligations payable from the pledged revenues;  or
(2)  preserve the right of the board to issue additional obligations that are on a parity with or subordinate to the lien and pledge on the revenue being used to support the obligations being issued pursuant to the order or resolution.
(c)  The order or resolution may contain any other provision or covenant determined by the board.
(d)  The board may make covenants with respect to the obligations, the pledged revenues, and the operation and maintenance of the buildings or equipment financed under this chapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter C. Obligations › Section 1232.119. Adoption and Execution of Instruments

Sec. 1232.119.  ADOPTION AND EXECUTION OF INSTRUMENTS.  The board may adopt and have executed any other proceeding or instrument necessary and convenient in the issuance of obligations.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter C. Obligations › Section 1232.1191. Delegation of Authority

Sec. 1232.1191.  DELEGATION OF AUTHORITY.  (a)  The board may delegate authority to negotiate contracts required for issuance of obligations to one or more of its employees or members.
(b)  The negotiation of a contract described by Subsection (a), including oral discussions with contractors, is not considered to be a meeting or a deliberation.
Added by Acts 2001, 77th Leg., ch. 1420, Sec. 8.009(a), eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter C. Obligations › Section 1232.120. Exemption From Taxation

Sec. 1232.120.  EXEMPTION FROM TAXATION.  An obligation issued by the board, any transaction relating to the obligation, and profits made from the sale of the obligation are exempt from taxation by this state or by a municipality or other political subdivision of this state.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter C. Obligations › Section 1232.121. Certification and Deposit of Proceeds of Obligations

Sec. 1232.121.  CERTIFICATION AND DEPOSIT OF PROCEEDS OF OBLIGATIONS.  (a)  After issuing obligations, the board shall certify to the commission or the appropriate state agency and to the comptroller that the proceeds from the issuance are available.  The board shall deposit the proceeds in the state treasury.
(b)  The proceeds shall be credited to the account of the state agency that is responsible under an agreement for making rental or installment payments to the authority.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter C. Obligations › Section 1232.122. Commencement of Construction, Purchase, or Lease

Sec. 1232.122.  COMMENCEMENT OF CONSTRUCTION, PURCHASE, OR LEASE.  The acquisition or construction of a building or the purchase or lease of equipment may begin after:
(1)  the authority has certified that obligations in an amount sufficient to pay the construction or purchase price of the project have been authorized for issuance by the authority and approved by the Bond Review Board;  or
(2)  the proceeds have been deposited into the state treasury and:
(A)  the comptroller has certified that the proceeds are available;
(B)  the reserve funds and capitalized interest, as certified by the authority as reasonably required, have been paid;  and
(C)  the costs of issuing the obligations, as certified by the authority, have been paid.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.010(a), eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter C. Obligations › Section 1232.1221. Commencement of Certain Multiyear Cancer-Related Projects

Sec. 1232.1221.  COMMENCEMENT OF CERTAIN MULTIYEAR CANCER-RELATED PROJECTS.  (a) Funds may be distributed to a grant recipient for a multiyear project for which an award is granted by the Cancer Prevention and Research Institute of Texas Oversight Committee as authorized by Section 102.257, Health and Safety Code, after the authority has certified that obligations in an amount sufficient to pay the money needed to fund the project have been authorized for issuance by the authority and approved by the Bond Review Board.
(b)  After issuing the obligations, the board shall:
(1)  pay the costs of the issuance and any related bond administrative costs of the authority;
(2)  certify to the Cancer Prevention and Research Institute of Texas and to the comptroller that the proceeds from the issuance are available; and
(3)  deposit the proceeds into the state treasury to be credited to the account of the Cancer Prevention and Research Institute of Texas.
Added by Acts 2011, 82nd Leg., R.S., Ch. 521 (H.B. 2251), Sec. 4, eff. June 17, 2011.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter C. Obligations › Section 1232.123. Investment of Bond Proceeds

Sec. 1232.123.  INVESTMENT OF BOND PROCEEDS.  (a)  With the board's concurrence, the comptroller shall invest the unexpended bond proceeds and investment income on bond proceeds in investments approved by law for the investment of state funds.
(b)  Investment income that the board determines is needed to finance the acquisition, construction, purchase, or lease of buildings or equipment and that is not required to be rebated to the federal government shall be credited to the account of the appropriate state agency.
(c)  Investment income that the board determines is not needed to finance the acquisition, construction, purchase, or lease of buildings or equipment and that is not required to be rebated to the federal government shall be credited to and accounted for in the state lease fund account.
(d)  Notwithstanding Section 404.071, the interest earned on the investment income that is deposited in the state lease fund account shall be credited to and accounted for in that account.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter C. Obligations › Section 1232.124. Preference for Texas Businesses

Sec. 1232.124.  PREFERENCE FOR TEXAS BUSINESSES.  If the authority contracts with a private entity to issue bonds under this chapter, the authority shall consider contracting with:
(1)  an entity that has a place of business in this state; and
(2)  a historically underutilized business as defined by Section 2161.001.
Added by Acts 2007, 80th Leg., R.S., Ch. 991 (S.B. 1332), Sec. 6, eff. September 1, 2007.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter D. Lease and Conveyance of Property by Authority › Section 1232.201. Rent and Fees

Sec. 1232.201.  RENT AND FEES.  (a)  The commission or the appropriate state agency shall establish schedules necessary to properly charge occupying state agencies for the expenses incurred in financing the acquisition or construction of buildings in accordance with this chapter.
(b)  An occupying state agency shall, when the payments are due, pay to the commission, the appropriate state agency, or directly into the state lease fund account the amount determined by the commission.  Instead of payments by an occupying state agency, the legislature may appropriate money on the agency's behalf directly to the state lease fund account.
(c)  Payments received by the commission or another state agency under this section shall be deposited to the credit of the state lease fund account.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter D. Lease and Conveyance of Property by Authority › Section 1232.202. Contracts Contingent on Legislative Appropriations

Sec. 1232.202.  CONTRACTS CONTINGENT ON LEGISLATIVE APPROPRIATIONS.  (a)  Each lease or installment sale contract entered into under this chapter is contingent on the legislature's appropriation of sufficient funds.
(b)  The board may act as necessary to ensure that the payment of the principal of and interest on obligations is continued without interruption if:
(1)  sufficient appropriated funds are unavailable;
(2)  the commission or another state agency fails to pay a rental or installment;  or
(3)  the commission or another state agency fails to renew a lease contract.
(c)  Permissible actions under Subsection (b) include:
(1)  the re-leasing or subleasing of buildings or equipment to any entity;  and
(2)  the repossession and resale of equipment to any entity.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter D. Lease and Conveyance of Property by Authority › Section 1232.203. Lease of Space for Child Care Facility

Sec. 1232.203.  LEASE OF SPACE FOR CHILD CARE FACILITY.  (a)  The commission, when acting under Chapter 663, is not an occupying state agency for purposes of Section 1232.201.
(b)  The commission or the appropriate state agency shall include in the schedules developed under Section 1232.201(a) the method of charging state agencies that occupy all or part of a building to which Section 1232.201 applies for the space in the building that is used for a child-care facility under Chapters 663, 2165, and 2166.
(c)  An occupying agency's share shall be determined at least in part on the ratio of the number of the occupying agency's employees who work in the building to the total number of state employees who work in the building.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 761, Sec. 6, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter D. Lease and Conveyance of Property by Authority › Section 1232.204. Leasing Preference

Sec. 1232.204.  LEASING PREFERENCE.  A building owned by the authority is considered state-owned space for the purposes of:
(1)  Section 2165.107;  and
(2)  child-care facility sites located in state-owned buildings under Chapters 663, 2165, and 2166.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter D. Lease and Conveyance of Property by Authority › Section 1232.205. Lease of Space to Outside Entities

Sec. 1232.205.  LEASE OF SPACE TO OUTSIDE ENTITIES.  The board may lease all or part of a building, the acquisition or construction of which was financed under this chapter, to any person if the building cannot be leased to the commission or another state agency.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle B - Provisions Applicable to Securities Issued by State Government › Chapter 1232 - Texas Public Finance Authority › Subchapter D. Lease and Conveyance of Property by Authority › Section 1232.206. Property Conveyance

Sec. 1232.206.  PROPERTY CONVEYANCE.  (a)  When the principal of and interest on obligations relating to equipment or a building financed under this chapter are fully paid and the equipment or building is free of all liens, the board shall certify to the commission or the appropriate state agency that rentals, payments, or installments are no longer required to pay the principal of and interest on the obligations.
(b)  When making the certification required by Subsection (a), the board shall, if necessary and for $1, convey the title of the equipment or building, including any real property, to the commission or the appropriate state agency.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government › Chapter 1251 - Bond Elections › Subchapter A. Provisions Relating Generally to County and Municipal Bond Elections › Section 1251.001. Bond Election Required

Sec. 1251.001.  BOND ELECTION REQUIRED.  A county or municipality may not issue bonds that are to be paid from ad valorem taxes unless the issuance is first approved by the qualified voters of the county or municipality in an election.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government › Chapter 1251 - Bond Elections › Subchapter A. Provisions Relating Generally to County and Municipal Bond Elections › Section 1251.003. Conduct of Election

Sec. 1251.003.  CONDUCT OF ELECTION.  (a)  The general election laws govern the election except as provided by this section.
(b)  The order for the election must include the location of each polling place and the hours that the polls will be open.
(c)  The election shall be held not less than 15 days nor more than 90 days from the date of the election order, subject to Section 41.001(b), Election Code.
(d)  In addition to the notice required by Section 4.003(c), Election Code, notice of the election shall be given by:
(1)  posting a substantial copy of the election order at:
(A)  three public places in the county or municipality holding the election;  and
(B)  the county courthouse, if the election is a county election, or the city hall, if the election is a municipal election;  and
(2)  publishing notice of the election in a newspaper of general circulation published in the county or municipality holding the election.
(e)  The notice required by Subsection (d)(2) must be published on the same day in each of two successive weeks.  The first publication must be not less than 14 days before the date of the election.
(f)  To the extent of a conflict between this section and a municipal charter, this section controls.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government › Chapter 1251 - Bond Elections › Subchapter A. Provisions Relating Generally to County and Municipal Bond Elections › Section 1251.004. Imposition of Tax

Sec. 1251.004.  IMPOSITION OF TAX.  At an election ordered on the issuance of bonds of a county or municipality, or of a political subdivision or defined district of a county or municipality, the governing body of the county or municipality shall also submit the question of whether to impose a tax on property in the county, municipality, political subdivision, or defined district to pay interest on the bonds and to provide a sinking fund to redeem the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government › Chapter 1251 - Bond Elections › Subchapter A. Provisions Relating Generally to County and Municipal Bond Elections › Section 1251.005. Ballot Proposition

Sec. 1251.005.  BALLOT PROPOSITION.  At the election, the ballots shall be printed to permit voting for or against the proposition:  "The issuance of bonds."
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government › Chapter 1251 - Bond Elections › Subchapter A. Provisions Relating Generally to County and Municipal Bond Elections › Section 1251.006. Certain Bonds Exempted

Sec. 1251.006.  CERTAIN BONDS EXEMPTED.  (a)  Sections 1251.001, 1251.002, and 1251.004 do not apply to:
(1)  refunding bonds of a county or municipality;  or
(2)  bonds issued in an amount less than $2,000 to repair a building or structure that may be built using the proceeds of bonds.
(b)  If bonds described by Subsection (a)(2) are issued, the aggregate principal amount of those bonds may not exceed $2,000 in a calendar year.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
This Subchapter B, consisting of Secs. 1251.051 to 1251.052, was added by Acts 2019, 86th Leg., R.S., Ch. 505 (S.B. 30), Sec. 4.
See also another Subchapter B, consisting of Secs. 1251.051 to 1251.052, as added by Acts 2019, 86th Leg., R.S., Ch. 728 (H.B. 477), Sec. 4.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government › Chapter 1251 - Bond Elections › Subchapter B. Ballot for Debt Obligations Issued by Political Subdivision › Section 1251.051. Definitions

Sec. 1251.051.  DEFINITIONS.  In this subchapter:
(1)  "Debt obligation" means a public security, as defined by Section 1201.002, secured by and payable from ad valorem taxes.  The term does not include public securities that are designated as self-supporting by the political subdivision issuing the securities.
(2)  "Political subdivision" means a municipality, county, school district, or special taxing district.
Added by Acts 2019, 86th Leg., R.S., Ch. 505 (S.B. 30), Sec. 4, eff. September 1, 2019.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government › Chapter 1251 - Bond Elections › Subchapter B. Ballot for Debt Obligations Issued by Political Subdivision › Section 1251.052. Form

Sec. 1251.052.  FORM.  (a)  The ballot for a measure seeking voter approval of the issuance of debt obligations by a political subdivision shall specifically state:
(1)  a plain language description of the single specific purposes for which the debt obligations are to be authorized;
(2)  the total principal amount of the debt obligations to be authorized; and
(3)  that taxes sufficient to pay the principal of and interest on the debt obligations will be imposed.
(a-1)  Each single specific purpose for which debt obligations requiring voter approval are to be issued must be printed on the ballot as a separate proposition.  A proposition may include as a specific purpose one or more structures or improvements serving the substantially same purpose and may include related improvements and equipment necessary to accomplish the specific purpose.
Added by Acts 2019, 86th Leg., R.S., Ch. 505 (S.B. 30), Sec. 4, eff. September 1, 2019.
This Subchapter B, consisting of Secs. 1251.051 to 1251.052, was added by Acts 2019, 86th Leg., R.S., Ch. 728 (H.B. 477), Sec. 4.
See also another Subchapter B, consisting of Secs. 1251.051 to 1251.052, as added by Acts 2019, 86th Leg., R.S., Ch. 505 (S.B. 30), Sec. 4.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle C - Provisions Applicable to Securities Issued by More Than One Type of Local Government › Chapter 1251 - Bond Elections › Subchapter B. Ballot for Debt Obligations Issued by Political Subdivision › Section 1251.051. Definitions

Sec. 1251.051.  DEFINITIONS.  In this subchapter:
(1)  "Debt obligation" means a public security, as defined by Section 1201.002, secured by and payable from ad valorem taxes.  The term does not include public securities that are designated as self-supporting by the political subdivision issuing the securities.
(2)  "Debt obligation election order" means the order, ordinance, or resolution ordering an election to authorize the issuance of debt obligations.
(3)  "Political subdivision" means a municipality, county, school district, or special taxing district.
Added by Acts 2019, 86th Leg., R.S., Ch. 728 (H.B. 477), Sec. 4, eff. September 1, 2019.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle D - Provisions Applicable to Securities Issued by Counties › Chapter 1301 - County Bonds › Section 1301.003. Limits on Issuance of Bonds

Sec. 1301.003.  LIMITS ON ISSUANCE OF BONDS.  (a)  The amounts of bonds issued under this chapter may not exceed:
(1)  for courthouse bonds, two percent of the county's taxable values;
(2)  for jail bonds, 1-1/2 percent of the county's taxable values;
(3)  for joint courthouse and jail bonds, 3-1/2 percent of the county's taxable values;  and
(4)  for bridge bonds, 1-1/2 percent of the county's taxable values.
(b)  In determining the amount of the respective type of bonds to be issued, previous debt incurred for the same purpose as the bonds shall be considered.
(c)  A county's total indebtedness for the purposes described by this chapter may not be increased by the issuance of bonds to an amount that exceeds five percent of the county's taxable values.
(d)  The county's taxable values are according to the most recent appraisal roll.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle D - Provisions Applicable to Securities Issued by Counties › Chapter 1301 - County Bonds › Section 1301.004. Payment of Interest and Creation of Sinking Fund

Sec. 1301.004.  PAYMENT OF INTEREST AND CREATION OF SINKING FUND.  (a)  Taxes imposed to pay the interest on bonds issued under this chapter and to create a sinking fund for the redemption of those bonds may not exceed:
(1)  25 cents per $100 valuation for courthouse or jail bonds;  and
(2)  15 cents per $100 valuation for bridge or road and bridge bonds.
(b)  If the principal of and all interest on bonds issued under this chapter are fully paid and a surplus not exceeding $1,000 remains in the sinking fund, the surplus may be used by the county to maintain and repair the courthouse, jail, roads, or bridges of the county, as determined by the commissioners court.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle D - Provisions Applicable to Securities Issued by Counties › Chapter 1302 - Destruction of County Security › Section 1302.001. Definition

Sec. 1302.001.  DEFINITION.  In this chapter, "county security" means a certificate, bond, interest coupon, or other evidence of indebtedness issued by a county.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle D - Provisions Applicable to Securities Issued by Counties › Chapter 1302 - Destruction of County Security › Section 1302.002. Authorization

Sec. 1302.002.  AUTHORIZATION.  The commissioners court of a county may contract with the county's depository or another entity that acts as the registrar or paying agent for a county security issued by the county for the destruction of a county security that has been issued and paid by the county.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle D - Provisions Applicable to Securities Issued by Counties › Chapter 1302 - Destruction of County Security › Section 1302.003. Limitation

Sec. 1302.003.  LIMITATION.  A contract under Section 1302.002 may not authorize the destruction of a county security before:
(1)  the first anniversary of the date the county security is paid;  or
(2)  the end of the third month after the date the depository, registrar, or paying agent files a list identifying the county security to be destroyed with the commissioners court or county treasurer.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle D - Provisions Applicable to Securities Issued by Counties › Chapter 1303 - Other Use of County Bond Proceeds › Section 1303.001. Use of Bond Proceeds for Owner-Controlled Insurance Program

Sec. 1303.001.  USE OF BOND PROCEEDS FOR OWNER-CONTROLLED INSURANCE PROGRAM.  A county may use the proceeds of bonds or certificates of obligation issued to pay for a county construction project to pay for an owner-controlled insurance program under which the county establishes and administers a consolidated insurance program for the project if the county's order authorizing the issuance of the bonds or other certificates of obligation authorizes the establishment of the program.
Added by Acts 2001, 77th Leg., ch. 564, Sec. 1, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle E - Provisions Applicable to Securities Issued by Municipalities › Chapter 1331 - Municipal Bonds › Subchapter A. General Provisions › Section 1331.001. Authority of Municipality to Issue Bonds

Sec. 1331.001.  AUTHORITY OF MUNICIPALITY TO ISSUE BONDS.  A municipality may issue bonds payable from ad valorem taxes in the amount it considers expedient to:
(1)  construct or purchase permanent improvements inside the municipal boundaries, including public buildings, waterworks, or sewers;
(2)  construct or improve the streets and bridges of the municipality;  or
(3)  construct or purchase building sites or buildings for the public schools and other institutions of learning inside the municipality, if the municipality has assumed exclusive control of those schools and institutions.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 1999, 76th Leg., ch. 1064, Sec. 13, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle E - Provisions Applicable to Securities Issued by Municipalities › Chapter 1331 - Municipal Bonds › Subchapter A. General Provisions › Section 1331.002. Signatures

Sec. 1331.002.  SIGNATURES.  Bonds issued by a municipality under Section 1331.001 must be signed in the manner provided by the proceedings authorizing the issuance of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 1999, 76th Leg., ch. 1064, Sec. 14, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle E - Provisions Applicable to Securities Issued by Municipalities › Chapter 1331 - Municipal Bonds › Subchapter B. Provisions Applicable to Certain Municipalities › Section 1331.051. Limitation on Bonded Debt: Municipality With Population of 950,000 or More

Sec. 1331.051.  LIMITATION ON BONDED DEBT:  MUNICIPALITY WITH POPULATION OF 950,000 OR MORE.  (a)  This section applies only to a municipality with a population of 950,000 or more.
(b)  The municipality, through the issuance of bonds payable from taxes, may incur total bonded debt in an amount not to exceed 10 percent of the total appraised value of property listed on the most recent appraisal roll for the municipality notwithstanding that the municipal charter limits the total dollar amount of bonded debt to a lesser amount.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1163 (H.B. 2702), Sec. 23, eff. September 1, 2011.
Acts 2023, 88th Leg., R.S., Ch. 644 (H.B. 4559), Sec. 49, eff. September 1, 2023.
Acts 2023, 88th Leg., R.S., Ch. 644 (H.B. 4559), Sec. 50, eff. September 1, 2023.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle E - Provisions Applicable to Securities Issued by Municipalities › Chapter 1331 - Municipal Bonds › Subchapter B. Provisions Applicable to Certain Municipalities › Section 1331.052. Authority of Home-Rule Municipality to Issue Bonds

Sec. 1331.052.  AUTHORITY OF HOME-RULE MUNICIPALITY TO ISSUE BONDS.  (a)  A home-rule municipality may issue bonds on the credit of the municipality to make permanent public improvements or for another public purpose in the amount and to the extent provided by its charter.
(b)  A home-rule municipality may not issue bonds under this section unless the bonds have been authorized by a majority of the qualified voters of the municipality voting at an election held for that purpose.
(c)  If a municipality was authorized under a special charter granted before June 30, 1913, to issue bonds, this section may not be construed as interfering with the issuance of bonds under that charter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle E - Provisions Applicable to Securities Issued by Municipalities › Chapter 1331 - Municipal Bonds › Subchapter B. Provisions Applicable to Certain Municipalities › Section 1331.053. Bond Sale Advertisement by Certain Home-Rule Municipalities

Sec. 1331.053.  BOND SALE ADVERTISEMENT BY CERTAIN HOME-RULE MUNICIPALITIES.  To receive competitive bids on the interest rate paid and the amount of the premium, the governing body of a municipality the charter of which requires that municipal bonds be advertised for sale after the bonds have been authorized and issued must advertise the bonds for sale and receive bids for the sale before adopting an ordinance authorizing the issuance of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle E - Provisions Applicable to Securities Issued by Municipalities › Chapter 1333 - Revocation of Unsold Municipal Bonds by Petition › Section 1333.001. Bond Revocation Election Required

Sec. 1333.001.  BOND REVOCATION ELECTION REQUIRED.  (a)  The governing body of a municipality shall order an election to determine whether to revoke bonds unsold for 10 years or more after the date the bonds are authorized to be issued if the governing body receives a petition signed by a number of registered property tax paying voters equal to 10 percent of the property tax paying voters voting in the most recent municipal election.
(b)  The election shall be held on the first authorized uniform election date prescribed by Chapter 41, Election Code, that allows sufficient time for compliance with any requirements established by law.
(c)  A municipality shall hold the election in the same manner as an election to issue bonds in the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle E - Provisions Applicable to Securities Issued by Municipalities › Chapter 1333 - Revocation of Unsold Municipal Bonds by Petition › Section 1333.002. Ballot Form

Sec. 1333.002.  BALLOT FORM.  At the election, the ballots shall be printed to permit voting for or against the following proposition:  "The revocation of the bonds."
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle E - Provisions Applicable to Securities Issued by Municipalities › Chapter 1333 - Revocation of Unsold Municipal Bonds by Petition › Section 1333.003. Election Results; Destruction of Bonds

Sec. 1333.003.  ELECTION RESULTS;  DESTRUCTION OF BONDS.  (a)  The governing body of the municipality shall record the results of an election held under this chapter in its minutes.
(b)  If a majority of the qualified voters voting at the election vote in favor of the proposition, the governing body of the municipality shall revoke and burn the unsold bonds.
(c)  The municipality shall send to the comptroller a certified copy of the minutes of the municipality showing the revocation and destruction of the bonds.
(d)  On receipt of notice under Subsection (c), the comptroller shall cancel the registration of the bonds in the records of the comptroller.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle E - Provisions Applicable to Securities Issued by Municipalities › Chapter 1333 - Revocation of Unsold Municipal Bonds by Petition › Section 1333.004. Tax Adjustment Following Revocation

Sec. 1333.004.  TAX ADJUSTMENT FOLLOWING REVOCATION.  (a)  The governing body of a municipality that revokes bonds under this chapter shall adjust the tax rate in the municipality to account for any change caused by the revocation.
(b)  The municipality by order shall refund taxes collected for payment of bonds revoked under this chapter, less any properly chargeable claims, ratably to the taxpayers.
(c)  The treasurer of the municipality shall keep a receipt of taxes refunded under Subsection (b).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1371 - Obligations for Certain Public Improvements › Subchapter A. General Provisions › Section 1371.002. Construction

Sec. 1371.002.  CONSTRUCTION.  This chapter shall be liberally construed to achieve the legislative intent and purposes of this chapter.  A power granted by this chapter shall be broadly interpreted to achieve that intent and those purposes.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1371 - Obligations for Certain Public Improvements › Subchapter A. General Provisions › Section 1371.003. Relationship to Other Law

Sec. 1371.003.  RELATIONSHIP TO OTHER LAW.  (a)  This chapter is wholly sufficient authority within itself for the issuance of obligations, the execution of a credit agreement, and the performance of the other acts and procedures authorized by this chapter or under any agreement, without reference to any other laws or any restrictions or limitations contained in those laws.  Any restrictions or limitations contained in other laws do not apply to the procedures prescribed by this chapter or to the issuance of obligations, the execution of credit agreements, or the performance of other acts authorized by this chapter.
(b)  To the extent of any conflict or inconsistency between this chapter and another law or a municipal charter, this chapter controls.
(c)  An issuer may use a provision of another law that does not conflict with this chapter to the extent convenient or necessary to carry out any power or authority, express or implied, granted by this chapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1310 (S.B. 968), Sec. 2, eff. June 15, 2007.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1371 - Obligations for Certain Public Improvements › Subchapter A. General Provisions › Section 1371.004. Effect of Finding or Determination Under Delegation of Authority

Sec. 1371.004.  EFFECT OF FINDING OR DETERMINATION UNDER DELEGATION OF AUTHORITY.  A finding or determination made by an officer or employee acting under the authority delegated to the officer or employee under this chapter has the same force and effect as a finding or determination made by the governing body.
Added by Acts 1999, 76th Leg., ch. 1064, Sec. 16, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1371 - Obligations for Certain Public Improvements › Subchapter B. Issuance and Approval of Obligation › Section 1371.051. Authority to Issue Obligation

Sec. 1371.051.  AUTHORITY TO ISSUE OBLIGATION.  As authorized and approved by the governing body of an issuer, the governing body may issue, sell, and deliver an obligation to:
(1)  finance a project cost;
(2)  refund an obligation issued in connection with an eligible project; or
(3)  finance all or part of a payment owed or to be owed on:
(A)  the establishment of a credit agreement; or
(B)  the settlement or termination, at maturity or otherwise, of a credit agreement, whether the settlement or termination occurs:
(i)  at the option of the issuer or the other party to the credit agreement; or
(ii)  by operation of the terms of the credit agreement.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 769, Sec. 10, eff. Sept. 1, 2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1310 (S.B. 968), Sec. 3, eff. June 15, 2007.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1371 - Obligations for Certain Public Improvements › Subchapter B. Issuance and Approval of Obligation › Section 1371.052. Transportation Authority Obligation; Election

Sec. 1371.052.  TRANSPORTATION AUTHORITY OBLIGATION;  ELECTION.  (a)  A transportation authority created, organized, and operating under Chapter 452, Transportation Code, may not issue an obligation, other than a refunding obligation, that is payable in whole or in part from its sales and use tax revenue and has a maturity longer than five years unless an election required by Section 452.352(b), Transportation Code, has been held and the proposition has been approved.
(b)  An obligation that is exempt from the election requirement of Section 452.352(b), Transportation Code, by the terms of Chapter 452, Transportation Code, is also exempt from the election requirement of this section.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.