reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans › Section 2306.294. Mortgage Loan Purchase Price

Sec. 2306.294.  MORTGAGE LOAN PURCHASE PRICE.  (a)  On purchasing a mortgage loan or interest in a mortgage loan from a mortgage lender, the department shall pay a purchase price equal to the outstanding principal balance, except that a discount from the principal balance or the payment of a premium may be used to produce a fair rate of return consistent with the obligations of the department and the purposes of this chapter.
(b)  In addition to payment of the outstanding principal balance, the department shall pay the accrued interest due to the date on which the mortgage loan is delivered against payment.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans › Section 2306.295. Rules Governing Purchase and Sale of Mortgage Loans

Sec. 2306.295.  RULES GOVERNING PURCHASE AND SALE OF MORTGAGE LOANS.  The department shall adopt rules governing the purchase and sale of mortgage loans and the application of sale proceeds, including rules governing:
(1)  procedures for submitting requests or inviting proposals for the purchase and sale of mortgage loans or interest in the mortgage loans;
(2)  restrictions on the number of family units, location, or other qualifications of residences to be financed by residential mortgage loans;
(3)  income limits of individuals and families of low and very low income or families of moderate income occupying a residence financed by a residential mortgage loan;
(4)  restrictions relating to the interest rates on mortgage loans or the return realized by mortgage lenders;
(5)  requirements for commitments by mortgage lenders relating to mortgage loans;
(6)  schedules of fees and charges necessary for expenses and reserves of the housing finance division;
(7)  resale of the housing development;  and
(8)  any other matter related to the power of the department to purchase and sell mortgage loans or interests in mortgage loans.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans › Section 2306.296. Review and Substitution of Purchased Mortgage Loans

Sec. 2306.296.  REVIEW AND SUBSTITUTION OF PURCHASED MORTGAGE LOANS.  (a)  The department shall review each mortgage loan purchased or financed by the department to determine if the loan meets:
(1)  the conditions of this chapter;
(2)  the department's rules;  and
(3)  any commitment made with the mortgage lender to purchase mortgage loans.
(b)  The department may require the substitution of another mortgage loan if it determines that a loan does not comply with the criteria of Subsection (a).
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans › Section 2306.297. Application of Provisions Relating to Loan Terms and Conditions

Sec. 2306.297.  APPLICATION OF PROVISIONS RELATING TO LOAN TERMS AND CONDITIONS.  Sections 2306.225 through 2306.229 apply to the purchase of mortgage loans.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter P. Housing Finance Division Bonds: Issuance of Bonds › Section 2306.351. Issuance of Bonds

Sec. 2306.351.  ISSUANCE OF BONDS.  (a)  The department may issue bonds under this chapter, including qualified 501(c)(3) bonds under Section 145, Internal Revenue Code of 1986 (26 U.S.C. Section 145), and may:
(1)  provide for and secure payment of the bonds;
(2)  provide for the rights of the holders of the bonds, as permitted by this chapter and the Texas Constitution;  and
(3)  purchase, hold, cancel, resell, or otherwise dispose of its bonds, subject to restrictions in a resolution authorizing issuance of its bonds.
(b)  In connection with or incidental to issuing and selling its bonds, the department may enter into contracts that the board considers necessary or appropriate for the department's obligation, as represented by the bonds and incidental contracts, to be placed, in whole or in part, on the basis desired by the board, including interest rate, currency, or cash flow.
(c)  Contracts that may be entered into under Subsection (b) include contracts:
(1)  commonly known as interest rate swap agreements, currency swap agreements, or forward payment conversion agreements;
(2)  providing for payments based on levels of or changes in interest rates or currency exchange rates;
(3)  to exchange cash flows or a series of payments;  or
(4)  that include options, puts or calls to hedge payment, currency, rate, spread, or similar exposure.
(d)  A contract entered into under this section shall be on terms and conditions approved by the board.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 40, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter P. Housing Finance Division Bonds: Issuance of Bonds › Section 2306.352. Texas Housing Bonds

Sec. 2306.352.  TEXAS HOUSING BONDS.  (a)  The board by resolution may provide for the issuance of negotiable bonds as authorized by the Texas Constitution.
(b)  The bonds shall be on a parity and shall be called Texas Housing Bonds.
(c)  The board:
(1)  may issue the bonds in one or several installments;  and
(2)  shall date the bonds of each issue.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter P. Housing Finance Division Bonds: Issuance of Bonds › Section 2306.353. Revenue Bonds

Sec. 2306.353.  REVENUE BONDS.  (a)  In addition to issuing general obligation bonds under Section 2306.352, the department may issue revenue bonds to provide money to carry out a purpose, power, or duty of the housing finance division under this chapter.
(b)  The bonds may be issued from time to time in one or more series or issues.
(c)  The bonds shall be payable as to principal, interest, and redemption premium, if any, from, and secured by, a first or subordinate lien on, and pledge of, all or part of the revenues, income, or other resources of the housing finance division, including:
(1)  the repayments of mortgage loans;
(2)  the earnings from investment or deposit of the reserve fund and other funds of the housing finance division;
(3)  the fees, charges, and other amounts or payments received under this chapter;  and
(4)  appropriations, grants, allocations, subsidies, rent supplements, guaranties, aid, contribution, or donations.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter P. Housing Finance Division Bonds: Issuance of Bonds › Section 2306.354. Definitive Refunding Bonds

Sec. 2306.354.  DEFINITIVE REFUNDING BONDS.  (a)  The department may issue definitive refunding bonds if the bonds are issued and delivered to refund:
(1)  other department bonds;  or
(2)  the obligations of:
(A)  the department's predecessor;  or
(B)  a local housing finance corporation.
(b)  The bonds must be payable as to principal, interest, and redemption premium, if any, from the refunding bonds and other revenues, income, or resources of the department.
(c)  The department may contract to issue, sell, and deliver the definitive refunding bonds in a manner that will provide the money necessary to pay a required part of the principal, interest, and redemption premium, if any, on the refunded bonds or obligations when due.
(d)  The refunded bonds or obligations may be refunded in another manner permitted by this chapter or other state law, including Chapter 1207.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.247, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter P. Housing Finance Division Bonds: Issuance of Bonds › Section 2306.355. Issuance of Additional Parity or Subordinate Lien Bonds

Sec. 2306.355.  ISSUANCE OF ADDITIONAL PARITY OR SUBORDINATE LIEN BONDS.  The department may issue additional parity bonds or subordinate lien bonds under terms or conditions in the resolution authorizing issuance of the bonds.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter P. Housing Finance Division Bonds: Issuance of Bonds › Section 2306.356. Issuance of Bonds to Fund Department Reserves or Funds

Sec. 2306.356.  ISSUANCE OF BONDS TO FUND DEPARTMENT RESERVES OR FUNDS.  The department may issue bonds to provide all or part of the money required for funding or increasing the department's reserves or funds.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter P. Housing Finance Division Bonds: Issuance of Bonds › Section 2306.357. Bonds Issued by Texas Housing Agency

Sec. 2306.357.  BONDS ISSUED BY TEXAS HOUSING AGENCY.  A general obligation or revenue bond issued by the Texas Housing Agency becomes a general obligation or revenue bond of the department.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 41, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter P. Housing Finance Division Bonds: Issuance of Bonds › Section 2306.359. Issuance of Private Activity Bonds

Sec. 2306.359.  ISSUANCE OF PRIVATE ACTIVITY BONDS.  (a)  In evaluating an application for an issuance of private activity bonds, the department shall score and rank the application using a point system based on criteria that are adopted by the department, including criteria regarding:
(1)  the income levels of tenants of the development, consistent with the funding priorities provided by Section 1372.0321;
(2)  the rent levels of the units;
(3)  the level of community support for the application;
(4)  the period of guaranteed affordability for low income tenants;
(5)  the cost per unit of the development;
(6)  the size, quality, and amenities of the units;
(7)  the services to be provided to tenants of the development; and
(8)  other criteria as developed by the board.
(b)  The department shall make available on its website details of the scoring system used by the department to score applications.
(c)  The department shall underwrite the applications by determining:
(1)  that the general contractor's profit, overhead, and general requirements are within the maximum limit published by the department;
(2)  that the developer fee for the proposed project does not exceed the maximum amount allowed by the department;  and
(3)  if applicable, the amount of tax credits available to the proposed development.
(d)  In adopting criteria for underwriting applications under this section, the department shall attach additional weight to criteria that will determine the maximum amount that can be awarded that will:
(1)  result in an issuance of private activity bonds for developments serving the lowest income tenants;  and
(2)  produce the greatest number of high-quality units committed to remaining affordable to qualified tenants for extended periods.
Added by Acts 2003, 78th Leg., ch. 330, Sec. 15, eff. Sept. 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1341 (S.B. 1908), Sec. 25, eff. September 1, 2007.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter Q. Housing Finance Division Bonds: Board Action on Bonds › Section 2306.371. Board Authorization of Bonds

Sec. 2306.371.  BOARD AUTHORIZATION OF BONDS.  Bonds issued by the department must be authorized by board resolution.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter Q. Housing Finance Division Bonds: Board Action on Bonds › Section 2306.372. Department Procedures

Sec. 2306.372.  DEPARTMENT PROCEDURES.  In a resolution authorizing the issuance of department bonds, the board may prescribe the systems and procedures under which the department shall function.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter Q. Housing Finance Division Bonds: Board Action on Bonds › Section 2306.373. Use of Bond Proceeds

Sec. 2306.373.  USE OF BOND PROCEEDS.  The board may provide in a resolution authorizing the issuance of department bonds that part of the proceeds from the sale of the bonds may be used to:
(1)  pay the costs and expenses of issuing the bonds;
(2)  pay interest on the bonds during a period required by the board;
(3)  pay or repay the department's operation and maintenance expenses to the extent and for the period specified in the resolution;  and
(4)  fund, increase, or restore any depletions of the reserve fund or of other reserves or funds for any purpose.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter Q. Housing Finance Division Bonds: Board Action on Bonds › Section 2306.374. Facsimile Signatures and Seals

Sec. 2306.374.  FACSIMILE SIGNATURES AND SEALS.  (a)  The board may state in a resolution authorizing the issuance of an installment or series of bonds the extent to which the presiding officer of the board or any other officer may use a facsimile signature or facsimile seal instead of a manual signature or manually impressed seal to execute or attest the bonds and appurtenant coupons.
(b)  An interest coupon may be signed by the facsimile signature of the presiding officer of the board.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter Q. Housing Finance Division Bonds: Board Action on Bonds › Section 2306.375. Personal Liability of Board Member or Director

Sec. 2306.375.  PERSONAL LIABILITY OF BOARD MEMBER OR DIRECTOR.  A member of the board or the director is not liable personally for bonds issued or contracts executed by the department or for any other action taken in accordance with the powers and duties authorized by this chapter.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 43, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter R. Housing Finance Division Bonds: Form; Terms › Section 2306.391. Form

Sec. 2306.391.  FORM.  The department's bonds may be issued as:
(1)  serial bonds;
(2)  term bonds;  or
(3)  a combination of serial and term bonds as determined by the board.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter R. Housing Finance Division Bonds: Form; Terms › Section 2306.392. Denomination

Sec. 2306.392.  DENOMINATION.  (a)  The department's bonds may be issued:
(1)  in coupon form payable to bearer;
(2)  in fully registered form;
(3)  as coupon bonds payable to bearer but registrable as to principal alone or as to both principal and interest;  or
(4)  in another form, including a registered uncertificated obligation not represented by written instruments, commonly known as a book-entry obligation.
(b)  The department shall provide for the registration of ownership and transfer of a book-entry obligation under a system of books and records maintained by a bank serving as trustee, paying agent, or bond registrar.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter R. Housing Finance Division Bonds: Form; Terms › Section 2306.393. Manner, Price, and Terms

Sec. 2306.393.  MANNER, PRICE, AND TERMS.  The department's bonds may be sold in a manner, at a price, and under terms and conditions determined by the board under a contractual arrangement approved by the board.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter R. Housing Finance Division Bonds: Form; Terms › Section 2306.394. Place of Payment; Medium of Exchange

Sec. 2306.394.  PLACE OF PAYMENT;  MEDIUM OF EXCHANGE.  (a)  The department's bonds may be payable at a place inside or outside the United States.
(b)  The bonds may be made payable in any currency or medium of exchange, including United States dollars and currencies of other nations.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter R. Housing Finance Division Bonds: Form; Terms › Section 2306.395. Interest on Bonds

Sec. 2306.395.  INTEREST ON BONDS.  The department's bonds may be issued to bear interest at a rate determined by the board.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter R. Housing Finance Division Bonds: Form; Terms › Section 2306.396. Maturity of Bonds

Sec. 2306.396.  MATURITY OF BONDS.  The department's bonds may mature within a period determined by the board.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter R. Housing Finance Division Bonds: Form; Terms › Section 2306.397. Redemption Before Maturity; Conversion

Sec. 2306.397.  REDEMPTION BEFORE MATURITY;  CONVERSION.  (a)  Department bonds may be made redeemable before maturity.
(b)  The board may provide and covenant for the:
(1)  conversion of one form of bond to another form;  and
(2)  reconversion of a bond to another form.
(c)  Except as provided by Subsection (d), a replacement, converted, or reconverted bond must be approved and registered as provided by Sections 2306.431 and 2306.432, under procedures established by the resolution authorizing the bonds.
(d)  If the duty of replacement, conversion, or reconversion of a bond is imposed on a place of payment (paying agent) or a corporate trustee under a trust agreement or trust indenture, the replacement, converted, or reconverted bond does not need to be reapproved by the attorney general or reregistered by the comptroller as provided by Sections 2306.431 and 2306.432.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter S. Housing Finance Division Bonds: Security for Bonds › Section 2306.411. Security for Payment of Principal, Interest, and Redemption Premium

Sec. 2306.411.  SECURITY FOR PAYMENT OF PRINCIPAL, INTEREST, AND REDEMPTION PREMIUM.  (a)  In addition to other security for the department's bonds authorized by this chapter, payment of the principal and interest and redemption premium, if any, on the department's bonds may be secured by a first or subordinate lien on and pledge of all or part of:
(1)  the department's assets and real, personal, or mixed property, including:
(A)  mortgages or other obligations securing the assets of property;
(B)  investments;  and
(C)  trust agreements or trust indentures administered by one or more corporate trustees as allowed by the board;  and
(2)  the reserves or funds of the department.
(b)  The form of a mortgage, trust agreement, or trust indenture securing department bonds must be authorized under the resolution authorizing the issuance of the bonds.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 44, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter S. Housing Finance Division Bonds: Security for Bonds › Section 2306.412. Validity of Liens and Pledges

Sec. 2306.412.  VALIDITY OF LIENS AND PLEDGES.  (a)  A lien on or pledge of revenues, income, assets, reserves, funds, or other resources of the department, as authorized by this chapter, is valid and binding from the time of payment for and delivery of the bonds authorized by the board resolution creating or confirming the lien or pledge.
(b)  A lien or pledge is fully effective as to revenues, income, assets, reserves, funds, or other resources on hand or later received, and those items are subject to the lien or pledge without physical delivery of the item or any further act.
(c)  A lien or pledge is valid and binding against a party who has a claim in tort, contract, or otherwise against the department or another party, regardless of whether the party has notice of the lien or pledge.
(d)  A resolution authorizing the issuance of department bonds or any other instrument creating or confirming a lien or pledge is not required to be filed or recorded, except that:
(1)  the resolution or instrument must be filed in the department's records;  and
(2)  each department bond resolution must be submitted to the attorney general under Section 2306.431.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 45, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter T. Housing Finance Division Bonds: Approval, Registration, and Execution › Section 2306.431. Approval of Bonds

Sec. 2306.431.  APPROVAL OF BONDS.  (a)  Bonds issued by the department and the appropriate proceedings authorizing the bonds' issuance shall be submitted to the attorney general for examination.
(b)  The attorney general shall approve the bonds if the attorney general finds that the bonds have been authorized as provided by this chapter.
(c)  Any bonds submitted by the department to the attorney general under this section must include a certification by the board that home mortgage loans made using the proceeds of the bonds do not include a mandatory arbitration requirement.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 2001, 77th Leg., ch. 1367, Sec. 1.25, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter T. Housing Finance Division Bonds: Approval, Registration, and Execution › Section 2306.432. Registration

Sec. 2306.432.  REGISTRATION.  On approval of the attorney general under Section 2306.431, the comptroller shall register the department's bonds.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter T. Housing Finance Division Bonds: Approval, Registration, and Execution › Section 2306.433. Execution

Sec. 2306.433.  EXECUTION.  Bonds authorized by Section 2306.352 shall be executed on the board's behalf as general obligations of the state as follows:
(1)  the presiding officer of the board shall sign the bonds;
(2)  the board shall impress its seal on the bonds;
(3)  the governor shall sign the bonds;  and
(4)  the secretary of state shall attest the bonds and impress on them the state seal.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter U. Housing Finance Division Bonds: Rights and Remedies of Bondholders and Parties in Interest › Section 2306.451. State Pledge Regarding Bondholder Rights and Remedies

Sec. 2306.451.  STATE PLEDGE REGARDING BONDHOLDER RIGHTS AND REMEDIES.  (a)  The state pledges to and agrees with the holders of bonds issued under this chapter that it will not limit or alter the rights vested in the department under this chapter to fulfill the terms of an agreement made with a bondholder or impair the rights and remedies of a bondholder until the following obligations are fully discharged:
(1)  the bonds;
(2)  interest on the bonds;
(3)  interest on any unpaid installment of interest;  and
(4)  all costs and expenses related to an action or proceeding by or on behalf of the holders.
(b)  The department may include the state's pledge and agreement under Subsection (a) in an agreement with the holders of the department's bonds.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter U. Housing Finance Division Bonds: Rights and Remedies of Bondholders and Parties in Interest › Section 2306.452. Payment Enforceable by Mandamus

Sec. 2306.452.  PAYMENT ENFORCEABLE BY MANDAMUS.  A writ of mandamus and any other legal or equitable remedy are available to a party in interest to require the department, the comptroller, or another party to carry out an agreement or to perform a function or duty under:
(1)  this chapter;
(2)  the Texas Constitution;  or
(3)  the department's bond resolutions.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 8.76, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter V. Housing Finance Division Bonds: Obligations of Department and State › Section 2306.471. General Obligation Bonds

Sec. 2306.471.  GENERAL OBLIGATION BONDS.  General obligation bonds issued under Section 2306.352 and approved and registered under this chapter are general obligations of the state.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter V. Housing Finance Division Bonds: Obligations of Department and State › Section 2306.472. Department's Bonds Other Than General Obligation Bonds Not Obligations of the State

Sec. 2306.472.  DEPARTMENT'S BONDS OTHER THAN GENERAL OBLIGATION BONDS NOT OBLIGATIONS OF THE STATE.  Except for bonds authorized by the Texas Constitution and issued under Section 2306.352, the department's bonds:
(1)  are solely obligations of the department and are payable solely from funds of the housing finance division;
(2)  are not an obligation, debt, or liability of the state;  and
(3)  do not create or constitute a pledge, giving, or lending of the faith, credit, or taxing power of the state.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter V. Housing Finance Division Bonds: Obligations of Department and State › Section 2306.473. State Not Obligated to Pay; Faith and Credit Not Pledged

Sec. 2306.473.  STATE NOT OBLIGATED TO PAY;  FAITH AND CREDIT NOT PLEDGED.  A department bond not authorized by Section 2306.352 must contain a statement on the face of the bond that:
(1)  the state is not obligated to pay the principal or interest on the bond;  and
(2)  the faith, credit, or taxing power of the state is not pledged, given, or loaned to payment of the bond's principal or interest.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter W. Housing Finance Division Bonds: Miscellaneous Provisions › Section 2306.491. Bonds Negotiable Instruments

Sec. 2306.491.  BONDS NEGOTIABLE INSTRUMENTS.  Notwithstanding any other statute, a bond and interest coupon issued and delivered by the department is a negotiable instrument under the Uniform Commercial Code, except that the bond may be registered or subject to registration under this chapter.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 46, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter W. Housing Finance Division Bonds: Miscellaneous Provisions › Section 2306.492. Bonds Incontestable

Sec. 2306.492.  BONDS INCONTESTABLE.  Department bonds are incontestable for any reason in a court or other forum after approval by the attorney general and registration by the comptroller and are valid and binding obligations for all purposes under the terms of the bonds.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter W. Housing Finance Division Bonds: Miscellaneous Provisions › Section 2306.493. Signature of Former Officer

Sec. 2306.493.  SIGNATURE OF FORMER OFFICER.  If an officer whose manual or facsimile signature appears on a bond or whose facsimile signature appears on a coupon is not an officer at the time the bond is delivered, the signature is valid and sufficient for all purposes as if the officer had remained in office until delivery.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter W. Housing Finance Division Bonds: Miscellaneous Provisions › Section 2306.494. Bonds Not Taxable

Sec. 2306.494.  BONDS NOT TAXABLE.  The following are free from taxation or assessment by this state or a public agency:
(1)  department bonds issued under this chapter;
(2)  interest and income from department bonds, including a profit from the sale of the bonds;  and
(3)  all fees, charges, gifts, grants, revenues, receipts, and other money received or pledged to pay or secure the payment of the department's bonds.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter W. Housing Finance Division Bonds: Miscellaneous Provisions › Section 2306.495. Authorized Investments

Sec. 2306.495.  AUTHORIZED INVESTMENTS.  Bonds issued by the department under this chapter are legal and authorized investments for:
(1)  banks;
(2)  savings banks;
(3)  trust companies;
(4)  savings and loan associations;
(5)  insurance companies;
(6)  fiduciaries;
(7)  trustees;
(8)  guardians;  or
(9)  sinking or other public funds of:
(A)  this state;
(B)  a municipality;
(C)  a county;
(D)  a school district;  or
(E)  another political subdivision or public agency of this state.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter W. Housing Finance Division Bonds: Miscellaneous Provisions › Section 2306.496. Security for Deposit of Funds

Sec. 2306.496.  SECURITY FOR DEPOSIT OF FUNDS.  Department bonds are eligible and lawful security for a deposit of public funds of the state or a public agency to the extent of the greater of the bonds' par or market value when accompanied by appurtenant unmatured interest coupons.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter W. Housing Finance Division Bonds: Miscellaneous Provisions › Section 2306.497. Mutilated, Lost, Stolen, or Destroyed Bonds

Sec. 2306.497.  MUTILATED, LOST, STOLEN, OR DESTROYED BONDS.  The board may provide procedures for the replacement of a mutilated, lost, stolen, or destroyed bond or interest coupon.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter W. Housing Finance Division Bonds: Miscellaneous Provisions › Section 2306.498. No Gain Allowed

Sec. 2306.498.  NO GAIN ALLOWED.  (a)  The director or a board member may not have or attempt to have a pecuniary interest in a transaction to which the department is a party for purposes of personal pecuniary gain.
(b)  A board member or department employee may not purchase department bonds in the open secondary market for municipal securities.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter X. Individuals With Special Needs › Section 2306.511. Definition

Sec. 2306.511.  DEFINITION.  In this subchapter, "individual with special needs" means an individual who:
(1)  is considered to be an individual having a disability under a state or federal law;
(2)  is elderly;
(3)  is designated by the board as experiencing a unique need for decent, safe housing that is not being met adequately by private enterprise;  or
(4)  is legally responsible for caring for an individual described by Subdivision (1), (2), or (3) and meets the income guidelines established by the board.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter X. Individuals With Special Needs › Section 2306.512. Special Needs

Sec. 2306.512.  SPECIAL NEEDS.  The department may adopt a strategy to serve the needs of individuals with special needs.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter X. Individuals With Special Needs › Section 2306.513. Housing for Individuals With Special Needs

Sec. 2306.513.  HOUSING FOR INDIVIDUALS WITH SPECIAL NEEDS.  (a)  The board shall adopt rules to achieve occupancy by individuals with special needs of at least five percent of the units in each multifamily housing development.
(b)  Subsection (a) applies only to a multifamily housing development that contains at least 20 units and is financed by bonds issued under this chapter.
(c)  If a survey that is conducted by the housing sponsor and verified by the housing finance division reveals that there is not sufficient need for housing for individuals with special needs in the area in which the development will be built or renovated to justify building or renovating and reserving at least five percent of the units for individuals with special needs, the department may, on a showing of good cause by the housing sponsor, lower the requirements to correspond to the amount of need found by the housing sponsor.
(d)  Repealed by Acts 1995, 74th Leg., ch. 76, Sec. 5.78, eff. Sept. 1, 1995.
(e)  Repealed by Acts 1997, 75th Leg., ch. 980, Sec. 54, eff. Sept. 1, 1997.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.  Amended by Acts 1995, 74th Leg., ch. 76, Sec. 5.78, eff. Sept. 1, 1995;  Acts 1997, 75th Leg., ch. 980, Sec. 54, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter X. Individuals With Special Needs › Section 2306.514. Construction Requirements for Single Family Affordable Housing

Sec. 2306.514.  CONSTRUCTION REQUIREMENTS FOR SINGLE FAMILY AFFORDABLE HOUSING.  (a)  If a person is awarded state or federal funds by the department to construct single family affordable housing for individuals and families of low and very low income, the affordable housing identified on the person's funding application must be constructed so that:
(1)  at least one entrance door, whether located at the front, side, or back of the building:
(A)  is on an accessible route served by a ramp or no-step entrance; and
(B)  has at least a standard 36-inch door;
(2)  on the first floor of the building:
(A)  each interior door is at least a standard 32-inch door, unless the door provides access only to a closet of less than 15 square feet in area;
(B)  each hallway has a width of at least 36 inches and is level, with ramped or beveled changes at each door threshold;
(C)  each bathroom wall is reinforced for potential installation of grab bars;
(D)  each electrical panel, light switch, or thermostat is not higher than 48 inches above the floor; and
(E)  each electrical plug or other receptacle is at least 15 inches above the floor; and
(3)  if the applicable building code or codes do not prescribe another location for the breaker boxes, each breaker box is located not higher than 48 inches above the floor inside the building on the first floor.
(b)  A person who builds single family affordable housing to which this section applies may obtain a waiver from the department of the requirement described by Subsection (a)(1)(A) if the cost of grading the terrain to meet the requirement is prohibitively expensive.
Added by Acts 1999, 76th Leg., ch. 1581, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1341 (S.B. 1908), Sec. 26, eff. September 1, 2007.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter X. -2. Natural Disaster Housing Reconstruction Initiative › Section 2306.541. Natural Disaster Housing Reconstruction Advisory Committee

Sec. 2306.541.  NATURAL DISASTER HOUSING RECONSTRUCTION ADVISORY COMMITTEE.  (a)  The director shall appoint a natural disaster housing reconstruction advisory committee composed of representatives from appropriate local, state, and federal entities and organizations and nonprofit organizations.
(b)  The advisory committee shall develop a natural disaster housing reconstruction plan.  In developing this plan, the advisory committee shall:
(1)  evaluate existing systems of providing temporary housing to victims of natural disasters and develop alternative systems to increase efficiency and cost-effectiveness;
(2)  evaluate existing models for providing permanent replacement housing to victims of natural disasters;
(3)  design alternatives to existing models to improve the sustainability, affordability, desirability, and quality of housing rebuilt in the event of future natural disasters;
(4)  evaluate economic circumstances of elderly, disabled, and low-income victims of natural disasters and develop models for providing affordable replacement housing;
(5)  recommend programs for the rapid and efficient large-scale production of temporary and permanent replacement housing following a natural disaster; and
(6)  encourage the participation, coordination, and involvement of appropriate federal organizations.
(c)  Chapter 2110 does not apply to the advisory committee.
Added by Acts 2009, 81st Leg., R.S., Ch. 1135 (H.B. 2450), Sec. 2, eff. September 1, 2009.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter X. -2. Natural Disaster Housing Reconstruction Initiative › Section 2306.542. Housing Reconstruction Demonstration Pilot Program

Sec. 2306.542.  HOUSING RECONSTRUCTION DEMONSTRATION PILOT PROGRAM.  (a)  Using the natural disaster housing reconstruction plan developed under this subchapter, the director and advisory committee shall develop, for implementation under Subsections (b) and (c), housing reconstruction demonstration pilot programs for three areas, each of which was affected by one of the three most recent federally declared natural disasters.  The pilot programs must provide for the replacement of at least 20 houses in each area to test the feasibility of implementing the plan in the large-scale production of replacement housing for victims of federally declared natural disasters.
(b)  The department shall provide to an interested council of government, county, or local government eligible for funding for disaster recovery under the community development block grant program:
(1)  information regarding a pilot program developed under Subsection (a); and
(2)  assistance in implementing a pilot program developed under Subsection (a).
(c)  At the discretion of the board, the department may implement a pilot program in any of the three most recently federally declared disaster areas in which a pilot program has not been implemented by a council of government, county, or local government.  The department may use any available funds to implement the pilot program.
Added by Acts 2009, 81st Leg., R.S., Ch. 1135 (H.B. 2450), Sec. 2, eff. September 1, 2009.
2023 Texas Statutes › Government Code › Title 10 - General Government › Subtitle G - Economic Development Programs Involving Both State and Local Governments › Chapter 2306 - Texas Department of Housing and Community Affairs › Subchapter Y. Texas State Affordable Housing Corporation › Section 2306.551. Definition

Sec. 2306.551.  DEFINITION.  In this subchapter, "corporation" means the Texas State Affordable Housing Corporation.
Added by Acts 1995, 74th Leg., ch. 76, Sec. 5.66(d), eff. Sept. 1, 1995.  Amended by Acts 1997, 75th Leg., ch. 980, Sec. 47, eff. Sept. 1, 1997.