reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter C. Procedure for Issuing Bonds › Section 1433.041. Department Approval of Lease; Appeal

Sec. 1433.041.  DEPARTMENT APPROVAL OF LEASE;  APPEAL.  (a)  An issuer may not begin proceedings to authorize bonds under Section 1433.044 or 1433.061 until the department has given tentative approval to the suggested contents of the lease agreement, and if a lessee is allowed to sublease, the department has tentatively approved the financial responsibility of the ultimate lessee.  The department shall investigate a proposed acquisition of existing facilities for compliance with Section 1433.022(d) before tentatively approving an industrial project or medical project.
(b)  The department may not give final approval to any agreement unless the department affirmatively finds that the lessee and ultimate lessee have the business experience, financial resources, and responsibility to provide reasonable assurance that all bonds and interest on the bonds to be paid from or because of that agreement will be paid as they become due.
(c)  The attorney general may not approve bonds to be issued under this chapter until the department has given final approval to the lease agreement and may not approve the bonds if the provisions for security and payment of lease payments do not conform with this chapter.
(d)  An issuer may appeal any adverse ruling or decision of the department under this section to a district court in Travis County.  The substantial evidence rule applies to an appeal under this subsection.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter C. Procedure for Issuing Bonds › Section 1433.042. Regulation of Leases

Sec. 1433.042.  REGULATION OF LEASES.  The department by rule shall adopt minimum standards for lease agreements and guidelines relating to financial responsibilities of the lessee and any ultimate lessee.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter C. Procedure for Issuing Bonds › Section 1433.043. Issuer's Authority

Sec. 1433.043.  ISSUER'S AUTHORITY.  (a)  An issuer may issue bonds under this chapter without obtaining the consent of any department, division, commission, board, bureau, or agency of the state, other than the attorney general under Chapter 1202 or the department, and without any proceedings or satisfying any condition precedent other than the proceedings and conditions required by:
(1)  this chapter;
(2)  Subchapter B or D, Chapter 1201;  or
(3)  Chapter 1204.
(b)  Except as provided by this chapter or by department rule, each governing body has complete authority with respect to bonds and lease agreements governed by 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 H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter C. Procedure for Issuing Bonds › Section 1433.044. Bond Resolution; Calling Election; Publication of Resolution

Sec. 1433.044.  BOND RESOLUTION;  CALLING ELECTION;  PUBLICATION OF RESOLUTION.  (a)  Before issuing bonds under this chapter, a governing body shall adopt a resolution declaring its intention to issue the bonds.
(b)  The resolution must specify:
(1)  the amount of bonds proposed to be issued;
(2)  the purpose for which the bonds are to be issued;  and
(3)  the date on which the governing body proposes to authorize the issuance of the bonds.
(c)  The governing body may call an election on the issuance of the bonds.
(d)  If an election is not called under Subsection (c), the governing body shall publish the resolution once a week for at least two consecutive weeks in at least one newspaper of general circulation in the territorial limits of the issuer.  The first publication must be not less than 14 days before the date specified in the resolution for the authorization 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 H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter C. Procedure for Issuing Bonds › Section 1433.045. Protest

Sec. 1433.045.  PROTEST.  (a)  If at least 10 percent of the registered voters of the issuer file a written protest against the issuance of the bonds on or before the date specified for the authorization of the bonds, the governing body shall hold an election on the issuance of the bonds.
(b)  If a written protest is not filed, the bonds may be issued without an election at any time before the second anniversary of the date specified in the resolution.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter C. Procedure for Issuing Bonds › Section 1433.046. Election Order

Sec. 1433.046.  ELECTION ORDER.  In addition to the requirements provided by Chapter 3, Election Code, an order calling an election under this subchapter must include the location of each polling place and the election judges and clerks appointed for each polling place.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter C. Procedure for Issuing Bonds › Section 1433.047. Notice of Election

Sec. 1433.047.  NOTICE OF ELECTION.  Notice of an election under this subchapter shall be published once a week for at least two consecutive weeks, in at least one newspaper of general circulation within the territorial limits of the issuer.  The first publication must be not less than 14 days before the date of the 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 H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter C. Procedure for Issuing Bonds › Section 1433.048. Ballot Proposition; Election Procedures

Sec. 1433.048.  BALLOT PROPOSITION;  ELECTION PROCEDURES.  (a)  The ballot for an election held under this subchapter shall be printed to permit voting for or against the proposition:  "The issuance of revenue bonds for the (medical project or industrial project)."
(b)  The election shall be conducted in accordance with the general laws of this state relating to general elections, except as modified by 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 H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter C. Procedure for Issuing Bonds › Section 1433.049. Results of Election

Sec. 1433.049.  RESULTS OF ELECTION.  (a)  Within 10 days after the election, or as soon after that as possible, the governing body of the issuer shall convene and canvass the returns of the election.
(b)  If a majority of the voters voting in a bond election vote in favor of the proposition, the governing body shall find and declare that the results favor the proposition, and subject to Section 1433.041, the governing body may proceed with the authorization 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 H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter D. Bonds › Section 1433.061. Issuance of Bonds

Sec. 1433.061.  ISSUANCE OF BONDS.  (a)  A series of bonds may be issued for each industrial project or medical project.  Any projects may be combined in a single series of bonds if the governing body considers the combination to be in the best interest of the issuer, but each project shall be considered separately with respect to this subsection and Subchapter C.
(b)  Bonds must be issued and delivered before the third anniversary of the later of the date of the tentative approval of the department or the date of the final judgment of any litigation affecting the validity of the bonds or the provision made for their payment.  This subsection does not prohibit the department from conditioning its approval of an industrial project or medical project on the completion of the financing of the project within a shorter period.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter D. Bonds › Section 1433.062. Money Used to Pay Bonds; Prohibition on Certain Obligations

Sec. 1433.062.  MONEY USED TO PAY BONDS;  PROHIBITION ON CERTAIN OBLIGATIONS.  (a)  The principal of and the interest on bonds authorized under this chapter are payable only from the money provided for that payment and from the revenue of the industrial project or medical project for which the bonds were authorized.
(b)  An issuer may not incur financial obligations that cannot be paid from revenue from the lease of an industrial project or medical project.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter D. Bonds › Section 1433.063. Bonds Not Debt of State or Issuer

Sec. 1433.063.  BONDS NOT DEBT OF STATE OR ISSUER.  (a)  A bond issued under this chapter is not a debt or a pledge of the faith and credit of this state, the issuer, or any other political subdivision or agency of this state.
(b)  A bond issued under this chapter must contain on its face a statement that:
(1)  this state, the issuer, or any other political subdivision or agency of this state is not obligated to pay the principal of or the interest on the bond except from revenue of the industrial project or medical project for which the bond is issued;  and
(2)  the faith and credit and the taxing power of this state, the issuer, or any other political subdivision or agency of this state are not pledged to the payment of the principal of or the interest on the bond.
(c)  Each bond issued under this chapter must contain substantially the following language:  "No pecuniary obligation is or may be imposed on the issuer of this bond in the event of a failure to pay all or part of the principal or interest on the bond, except that the issuer is obligated to apply rental income it receives from the (industrial project or medical project) to 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 H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter D. Bonds › Section 1433.064. Maturity

Sec. 1433.064.  MATURITY.  A bond issued under this chapter must mature not later than 40 years after its date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter D. Bonds › Section 1433.065. Sale of Bonds

Sec. 1433.065.  SALE OF BONDS.  Bonds issued under this chapter shall be sold to the highest bidder for cash and may not be exchanged for property.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter D. Bonds › Section 1433.066. Interim Receipts; Temporary Bonds

Sec. 1433.066.  INTERIM RECEIPTS;  TEMPORARY BONDS.  Before the preparation of definitive bonds, an issuer may, under the restrictions applicable to the definitive bonds, issue interim receipts or temporary bonds, with or without coupons, exchangeable for definitive bonds when the definitive bonds are executed and available for delivery.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter D. Bonds › Section 1433.067. Use of Bond Proceeds

Sec. 1433.067.  USE OF BOND PROCEEDS.  The proceeds of the bonds of each issue may be used only for the payment of the cost of the industrial project or medical project for which the bonds were issued, and shall be disbursed in the manner and under any restrictions provided in the resolution authorizing the issuance of the bonds or in the trust agreement securing the bonds.  Any proceeds of the bonds of an issue that exceed the cost of the project for which the bonds were issued shall be deposited to the credit of the sinking fund for those 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 H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter D. Bonds › Section 1433.068. Refunding Bonds

Sec. 1433.068.  REFUNDING BONDS.  (a)  An issuer by resolution may provide for the issuance of revenue refunding bonds to:
(1)  refund any outstanding bonds issued under this chapter;  and
(2)  construct improvements, extensions, or enlargements to the industrial project or medical project in connection with which the bonds being refunded were issued.
(b)  An issuer may issue revenue refunding bonds in exchange for outstanding bonds, notwithstanding Section 1433.065, or the issuer may use the proceeds from the sale of the revenue refunding bonds to redeem outstanding 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 H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter D. Bonds › Section 1433.069. Exemptions From Taxation and Securities Act

Sec. 1433.069.  EXEMPTIONS FROM TAXATION AND SECURITIES ACT.  (a)  A bond issued under this chapter and the issuance and transfer of the bond, including any profit made in the sale of the bond, are exempt from taxation by this state or by a political subdivision of this state.
(b)  A bond issued under this chapter and any coupon representing interest on the bond are exempt securities under The Securities Act (Title 12, Government Code).
(c)  A lease agreement under this chapter is not a security under The Securities Act (Title 12, Government Code).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.26, eff. January 1, 2022.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter E. Agreements Relating to Bonds › Section 1433.101. Security for Bond; Trust Agreement

Sec. 1433.101.  SECURITY FOR BOND;  TRUST AGREEMENT.  (a)  A bond issued under this chapter may be secured by a trust agreement between the issuer and a trust company or a bank having the powers of a trust company in this state.
(b)  A trust agreement may:
(1)  assign the lease revenue to be received from the lessee or the ultimate lessee of the industrial project or medical project for which the bond proceeds are used;  or
(2)  pledge the lease revenue for the payment of principal of and interest on the bond as they become due and payable and may provide for the creation and maintenance of reserves for that purpose.
(c)  A trust agreement or a resolution providing for the issuance of the bonds may contain provisions for protecting and enforcing the rights and remedies of the bondholders, including covenants that state the duties of the issuer or lessee relating to:
(1)  the acquisition of property for the industrial project or medical project in connection with which the bonds were authorized;
(2)  the construction, improvement, maintenance, repair, operation, and insurance of the project;  and
(3)  the custody, protection, and application of all money related to the project.
(d)  An issuer may require a bank or trust company incorporated under the laws of this state that acts as depository of the proceeds of the bonds or of revenue of the issuer to furnish indemnifying bonds or to pledge securities.
(e)  A trust agreement may state the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action by bondholders as is customary in trust agreements or trust indentures securing bonds and debentures of corporations.  A trust agreement may contain additional provisions for the security of the bondholders.
(f)  All expenses incurred in carrying out a trust agreement may be treated as a part of the cost of the operation of the industrial project or medical project.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter E. Agreements Relating to Bonds › Section 1433.102. Default in Lease Agreement or Mortgage; Enforcement

Sec. 1433.102.  DEFAULT IN LEASE AGREEMENT OR MORTGAGE;  ENFORCEMENT.  (a)  An agreement relating to an industrial project or medical project between the issuer and the lessee or between a lessee and ultimate lessee must be for the benefit of the issuer.  The agreement must provide that, in the event of a default in the payment of the principal of or the interest on the bonds or in the performance of any agreement contained in a proceeding, mortgage, or instrument, the payment or performance may be enforced by mandamus or by the appointment of a receiver with the power to charge rents and to apply the revenue from the project in accordance with the resolution, mortgage, or instrument.
(b)  A mortgage to secure bonds issued under this chapter may also provide that, in the event of a default in the payment of the mortgage or a violation of an agreement contained in the mortgage, the mortgage may be foreclosed and the property securing the bonds may be sold in any manner permitted by law.  The mortgage may provide that a trustee under the mortgage or the holder of any of the bonds secured by the mortgage may purchase the property at a foreclosure sale if the person is the highest bidder.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1433 - Bonds for Development of Employment, Industrial, and Health Resources › Subchapter E. Agreements Relating to Bonds › Section 1433.103. Purchase Option

Sec. 1433.103.  PURCHASE OPTION.  (a)  An issuer may grant a lessee or ultimate lessee an option to purchase all or a part of an industrial project or medical project when all bonds of the issuer delivered to provide those facilities have been paid or provision has been made for their final payment, if, while the bonds or interest on the bonds remains unpaid, the lease rentals are paid in the manner required and when the rentals become due.
(b)  For purposes of this section, a payment is considered to be paid in the manner required and when it becomes due if no event of default is declared and the payment is made within 15 calendar days of the date it is scheduled to become due.
(c)  This section is the exclusive authority to convey or grant an option to purchase an industrial project or medical project.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1434 - County and Municipal Higher Education Improvement Bonds › Subchapter A. General Provisions › Section 1434.001. Applicability of Chapter

Sec. 1434.001.  APPLICABILITY OF CHAPTER.  This chapter applies only to:
(1)  a home-rule municipality with a population of 25,000 or more that has an institution of higher education located within its boundaries or has entered into an agreement with an institution of higher education relating to the provision of services in furtherance of the completion of certificate programs, degree programs, or other higher education programs within the municipality by the institution of higher education; or
(2)  a county within which a municipality described by Subdivision (1) is located.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 237 (S.B. 1952), Sec. 1, eff. May 27, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1434 - County and Municipal Higher Education Improvement Bonds › Subchapter A. General Provisions › Section 1434.002. Definitions

Sec. 1434.002.  DEFINITIONS.  In this chapter:
(1)  "Agreement" includes a lease, contract, or lease-purchase agreement.
(2)  "Institution of higher education" means:
(A)  an institution of higher education as defined by Section 61.003, Education Code, other than a public junior college; or
(B)  a private, nonprofit institution of higher education that is accredited by the recognized accrediting agency and is located and authorized to operate in this state, other than a private institution of higher education operated exclusively for sectarian purposes.
(3)  "Public security" has the meaning assigned by Section 1201.002.
(4)  "Recognized accrediting agency" has the meaning assigned by Section 61.003, Education Code.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 237 (S.B. 1952), Sec. 2, eff. May 27, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1434 - County and Municipal Higher Education Improvement Bonds › Subchapter A. General Provisions › Section 1434.003. Legislative Finding

Sec. 1434.003.  LEGISLATIVE FINDING.  The legislature finds:
(1)  that the assistance provided by counties and municipalities in promoting and providing higher education opportunities for residents of this state will benefit and enhance the general welfare of their residents by providing new and alternative higher education resources and enhanced access to those resources, improving and enhancing the educational opportunities of their residents, and allowing the completion of certificate programs, degree programs, and other higher education programs locally; and
(2)  that those benefits and enhancements constitute public purposes for counties and municipalities.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 237 (S.B. 1952), Sec. 3, eff. May 27, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1434 - County and Municipal Higher Education Improvement Bonds › Subchapter B. Issuance of Bonds › Section 1434.051. Financing of Permanent Improvements by County or Municipality

Sec. 1434.051.  FINANCING OF PERMANENT IMPROVEMENTS BY COUNTY OR MUNICIPALITY.  (a)  A county or a municipality may:
(1)  issue public securities, including certificates of obligation, to acquire, construct, or improve land, buildings, or other permanent improvements for use by an institution of higher education located within a county to which this chapter applies;  and
(2)  impose ad valorem taxes to pay the principal of and interest on those securities and to provide a sinking fund.
(a-1)  A municipality that has entered into an agreement described by Section 1434.001(1) may:
(1)  issue public securities, including certificates of obligation, to acquire, construct, or improve land, buildings, or other permanent improvements for use by an institution of higher education;
(2)  impose ad valorem taxes to pay and secure payment of the principal of and interest on those securities and to provide a sinking fund; and
(3)  pledge those taxes, any portion of the revenues received in connection with the agreement, or any combination of the taxes and revenue to secure payment of any portion of the public securities issued to acquire, construct, or improve the land, buildings, or other permanent improvements for use by the institution of higher education.
(b)  The county or municipality shall:
(1)  issue any public securities and impose the taxes in accordance with the applicable provisions of Subtitles A, C, D, and E;  and
(2)  if the securities are certificates of obligation, issue any certificates and impose the taxes in accordance with Subchapter C, Chapter 271, Local Government Code.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 237 (S.B. 1952), Sec. 4, eff. May 27, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1434 - County and Municipal Higher Education Improvement Bonds › Subchapter B. Issuance of Bonds › Section 1434.052. Joint Financing by County and Municipality

Sec. 1434.052.  JOINT FINANCING BY COUNTY AND MUNICIPALITY.  (a)  A county and a municipality may jointly issue public securities and impose ad valorem taxes for a purpose described by Section 1434.051.
(b)  The commissioners court of the county and the governing body of the municipality shall determine the appropriate proportion of the ad valorem taxes to be imposed by the county and by the municipality.
(c)  A public security proposition that is submitted must distinctly specify the proportion of ad valorem taxes to be imposed by the county and by the municipality.
(d)  The county and municipality shall issue the public securities and impose the taxes in accordance with the applicable provisions of Subtitles A, C, D, and E.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1434 - County and Municipal Higher Education Improvement Bonds › Subchapter B. Issuance of Bonds › Section 1434.053. Limit on Taxes

Sec. 1434.053.  LIMIT ON TAXES.  The only limits on the amount of taxes that may be imposed to pay the principal of and interest on public securities, including certificates of obligation, issued under this chapter are those provided by the Texas Constitution.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1434 - County and Municipal Higher Education Improvement Bonds › Subchapter C. Donation or Use of Permanent Improvements › Section 1434.101. Donation of Permanent Improvements

Sec. 1434.101.  DONATION OF PERMANENT IMPROVEMENTS.  (a)  A county or municipality may donate to a general academic teaching institution a permanent improvement acquired, constructed, or improved by the county, by the municipality, or by the county and the municipality jointly.
(b)  The donation is not subject to any law of this state governing the disposition of property owned by a county or 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 H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1434 - County and Municipal Higher Education Improvement Bonds › Subchapter C. Donation or Use of Permanent Improvements › Section 1434.102. Use of Permanent Improvements

Sec. 1434.102.  USE OF PERMANENT IMPROVEMENTS.  (a)  A municipality may allow a state four-year institution of higher education or a university system to use land or buildings acquired by the municipality.
(b)  This section does not apply to an institution of higher education that is supported in any way by revenue from a local tax base.
(c)  A use under this section is a municipal purpose and a public use for 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 H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1435 - Bonds for Parks and Fairground Facilities in Certain Municipalities and Counties › Subchapter A. General Provisions › Section 1435.001. Applicability of Chapter; Joint Municipal and County Action

Sec. 1435.001.  APPLICABILITY OF CHAPTER;  JOINT MUNICIPAL AND COUNTY ACTION.  (a)  This chapter applies only to:
(1)  a municipality with a population greater than 550,000;
(2)  a county with a population greater than 550,000;  or
(3)  a municipality described by Subdivision (1) and a county described by Subdivision (2) acting together.
(b)  A provision of this chapter that applies to a municipality or county also applies to a municipality and county acting together.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1435 - Bonds for Parks and Fairground Facilities in Certain Municipalities and Counties › Subchapter A. General Provisions › Section 1435.002. Definition

Sec. 1435.002.  DEFINITION.  In this chapter, "park facility" means a building, improvement, or structure owned by a municipality or county and used in a municipal or county park or fairground for exhibits, concessions, or entertainment.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1435 - Bonds for Parks and Fairground Facilities in Certain Municipalities and Counties › Subchapter A. General Provisions › Section 1435.003. Authority for Park Facilities

Sec. 1435.003.  AUTHORITY FOR PARK FACILITIES.  A municipality or county may:
(1)  construct, acquire, repair, improve, or enlarge a park facility;  or
(2)  acquire additional land, if needed, for a park facility.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1435 - Bonds for Parks and Fairground Facilities in Certain Municipalities and Counties › Subchapter A. General Provisions › Section 1435.004. Lease or Contract for Operation of Park Facilities

Sec. 1435.004.  LEASE OR CONTRACT FOR OPERATION OF PARK FACILITIES.  A municipality or county may enter a lease or contract for the operation of one or more of its park facilities.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1435 - Bonds for Parks and Fairground Facilities in Certain Municipalities and Counties › Subchapter B. Bonds › Section 1435.051. Authority to Issue Revenue Bonds

Sec. 1435.051.  AUTHORITY TO ISSUE REVENUE BONDS.  (a)  To obtain money for a purpose described by Section 1435.003, the governing body of a municipality or county may, without an election, issue revenue bonds payable from and secured by a pledge of the net revenue from one or more of its park facilities or from leases of or contracts for the operation of the park facilities.
(b)  A bond issued under this chapter must state on its face substantially the following:  "The holder of this bond is not entitled to demand payment of this bond out of money raised by taxation."
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1435 - Bonds for Parks and Fairground Facilities in Certain Municipalities and Counties › Subchapter B. Bonds › Section 1435.052. Maturity

Sec. 1435.052.  MATURITY.  A bond issued under this chapter must mature within 40 years.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1435 - Bonds for Parks and Fairground Facilities in Certain Municipalities and Counties › Subchapter B. Bonds › Section 1435.053. Duty of Governing Body

Sec. 1435.053.  DUTY OF GOVERNING BODY.  While the bonds are outstanding, the governing body of the municipality or county shall:
(1)  enforce each lease or contract entered under Section 1435.004 and impose adequate fees, charges, and rentals to assure payment of the principal of and interest on the bonds as they become due;  and
(2)  establish and maintain the funds as provided by the 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 H - Specific Authority for More Than One Type of Local Government to Issue Securities › Chapter 1435 - Bonds for Parks and Fairground Facilities in Certain Municipalities and Counties › Subchapter B. Bonds › Section 1435.054. Execution of Bonds

Sec. 1435.054.  EXECUTION OF BONDS.  The bonds shall be executed as provided by law for municipal 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 I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter A. General Provisions › Section 1471.001. Applicability of Chapter

Sec. 1471.001.  APPLICABILITY OF CHAPTER.  This chapter applies only to the following political subdivisions:
(1)  a county, including a county operating under a special road tax law;
(2)  a commissioners precinct or a justice precinct of a county;  and
(3)  a road district.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter A. General Provisions › Section 1471.002. Conflicts of Law

Sec. 1471.002.  CONFLICTS OF LAW.  To the extent of a conflict between this chapter and Chapter 1204, Chapter 1204 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 I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.011. Authority to Issue Road Bonds

Sec. 1471.011.  AUTHORITY TO ISSUE ROAD BONDS.  (a)  In this section, "bonds" includes tax anticipation notes, bond anticipation notes, and other obligations.
(b)  A political subdivision may issue bonds in the manner provided by this chapter and Section 52, Article III, Texas Constitution, to:
(1)  construct, purchase, maintain, or operate a macadamized, graveled, or paved road or turnpike;  or
(2)  aid a purpose described by Subdivision (1).
(c)  An issuer of bonds under Subsection (b) may impose ad valorem taxes to pay the interest on the bonds and provide a sinking fund for the redemption of the bonds.
(d)  The total amount of bonds issued under this chapter may not exceed one-fourth of the assessed value of real property of the political subdivision issuing the bonds.
(e)  In determining the limitation imposed by Subsection (d), the assessed value of property of the political subdivision is the market value of the property as recorded by the chief appraiser of the appraisal district that appraises property for the political subdivision.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.012. Emergency Notes

Sec. 1471.012.  EMERGENCY NOTES.  (a)  If money is not available, a political subdivision may:
(1)  declare an emergency to:
(A)  pay the principal of and interest on bonds issued under this chapter any part of which is payable from taxes;  or
(B)  meet any other need of the political subdivision;  and
(2)  issue tax or bond anticipation notes to borrow the money needed.
(b)  Notes issued under this section must mature not later than one year after their date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.013. Tax Anticipation Notes

Sec. 1471.013.  TAX ANTICIPATION NOTES.  (a)  A political subdivision may issue tax anticipation notes authorized by Section 1471.012 for any purpose for which the political subdivision is authorized to impose taxes under Subtitle C, Title 6, Transportation Code.
(b)  Tax anticipation notes must be secured by the proceeds of taxes to be imposed in the succeeding 12 months.
(c)  The commissioners court may covenant with purchasers of the notes to impose a tax sufficient to pay:
(1)  the principal of and interest on the notes;  and
(2)  the costs of collecting the taxes.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.014. Bond Anticipation Notes

Sec. 1471.014.  BOND ANTICIPATION NOTES.  (a)  A political subdivision may issue bond anticipation notes authorized by Section 1471.012 for:
(1)  any purpose for which bonds of the political subdivision have been previously approved at an election;  or
(2)  refunding previously issued bond anticipation notes.
(b)  A political subdivision may covenant with the purchasers of the bond anticipation notes to use the proceeds of sale of any bonds in the process of being issued to refund the bond anticipation notes.  An issuer making a covenant under this subsection shall apply the proceeds received from the sale of the bonds in the process of being issued to pay the principal of, interest on, or redemption price of the bond anticipation notes.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.015. Election on Issuance of Bonds: County

Sec. 1471.015.  ELECTION ON ISSUANCE OF BONDS:  COUNTY.  (a)  On the motion of the commissioners court or on receipt of a petition signed by a number of registered voters of the county equal to at least one percent of the total votes cast in the county in the most recent general election for governor, the court at a regular or special session shall order an election to be held in the county to determine whether the county shall:
(1)  issue bonds to:
(A)  construct, maintain, or operate a macadamized, graveled, or paved road or turnpike;  or
(B)  aid a purpose described by Paragraph (A);  and
(2)  impose taxes on all property in the county subject to taxation to pay the interest on the bonds and to provide a sinking fund for the redemption of the bonds at maturity.
(b)  A petition submitted under Subsection (a) that designates a particular road or project or a portion of a road or project must be accompanied by a written estimate of the cost of the road or project prepared by the county engineer at the expense of the county.
(c)  In addition to the requirements provided by Chapters 3 and 4, Election Code, the election order and notice of election under this section must state:
(1)  the purpose for which the bonds are to be issued;
(2)  the amount of the bonds;
(3)  the rate of interest;  and
(4)  that ad valorem taxes will be imposed annually on all taxable property in the county in amounts sufficient to pay the bonds at maturity.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.016. Petition for Election on Issuance of Bonds: Precinct or Road District

Sec. 1471.016.  PETITION FOR ELECTION ON ISSUANCE OF BONDS:  PRECINCT OR ROAD DISTRICT.  (a)  A commissioners or justice precinct or a road district may not issue bonds under this chapter unless a petition is submitted to the commissioners court of the county and an election is ordered under Section 1471.017.
(b)  A petition under this section must:
(1)  request the commissioners court of the county in which the precinct or district is located to order an election to determine whether:
(A)  bonds of the precinct or district shall be issued in an amount stated to:
(i)  construct, maintain, or operate a macadamized, graveled, or paved road or turnpike;  or
(ii)  aid an activity described in Subparagraph (i);  and
(B)  taxes shall be imposed on all taxable property in the precinct or district in payment of the bonds;  and
(2)  be signed by:
(A)  50 or a majority of the registered voters of the precinct or district;  or
(B)  all of the owners of property in the precinct or district as determined by the county tax roll.
(c)  On receipt of the petition, the commissioners court by order shall set the time and place for a hearing.  The date of the hearing may not be less than 15 days or more than 90 days after the date the commissioners court orders the hearing.  The county clerk shall immediately issue a notice of the time and place of the hearing.
(d)  The notice of the hearing must:
(1)  inform all interested persons of their right to appear at the hearing and contend for or protest the ordering of the bond election;
(2)  state the amount of bonds proposed to be issued and describe the precinct or district by its name or number;
(3)  for a district:
(A)  include a description of the property comprising the district, including the district's estimated acreage and boundaries, described in a manner reasonably calculated to inform interested persons of the area comprising the district;  and
(B)  include a map or diagram of the area reasonably calculated to show the boundaries of the district and the major roadways in or adjacent to the district;  and
(4)  designate a county officer or employee from whom further details may be obtained.
(e)  The clerk shall execute notice under this section in the same manner as required for an election under Section 1471.018.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.017. Hearing on and Determination of Petition: Precinct or Road District

Sec. 1471.017.  HEARING ON AND DETERMINATION OF PETITION:  PRECINCT OR ROAD DISTRICT.  (a)  At the hearing on a petition submitted under Section 1471.016, the commissioners court shall hear all matters pertaining to the proposed bond election.  Any interested person may appear before the court in person or by attorney and contend for or protest the calling of the proposed bond election.
(b)  The commissioners court may order that an election be held in the commissioners or justice precinct or road district on the issue submitted in the petition if the court finds that:
(1)  the petition is signed by the proper number of qualified persons;
(2)  the required notice has been given;  and
(3)  the proposed improvements would benefit all taxable property in the precinct or district.
(c)  The commissioners court may change the amount of bonds proposed to be issued if at the hearing the court finds the change is necessary or desirable.
(d)  The proposition submitted at the election must specify:
(1)  the purpose for which the bonds are to be issued;
(2)  the amount of the bonds;
(3)  the rate of interest;  and
(4)  that ad valorem taxes are to be imposed annually on all taxable property in the precinct or district in an amount sufficient to pay the annual interest and provide a sinking fund to pay the bonds at maturity.
(e)  A proposition meets the requirements of this chapter if it is in the following form:
"Authorizing the (name of precinct or district) to issue its bonds in the total sum of $__________ and to impose annually ad valorem taxes on all taxable property in the (precinct or district) to pay the interest on the bonds and create a sinking fund to redeem the principal at maturity for the purposes of the purchase or acquisition of roads and the construction, maintenance, and operation of macadamized, graveled, or paved roads and turnpikes or in aid of those purposes inside or outside the boundaries of the (precinct or district)."
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.