Texas Administrative Code › Title 19 - EDUCATION › Part 2 - TEXAS EDUCATION AGENCY › Chapter 33 - STATEMENT OF INVESTMENT OBJECTIVES, POLICIES, AND GUIDELINES OF THE TEXAS PERMANENT SCHOOL FUND › Subchapter A - STATE BOARD OF EDUCATION RULES › Section 33.8 - Compliance with Securities and Exchange Commission (SEC) Rule 15c2-12 Pertaining to Disclosure of Information Relating to the Bond Guarantee Program

Current through Reg. 49, No. 28; July 12, 2024
(a) Definitions. As
				  used in this section, the following terms have the meanings ascribed to such
				  terms below.
(1) Agency means the Texas
				  Education Agency and any successors or assigns thereto with respect to the
				  management and administration of the Program or the investment of the Permanent
				  School Fund.
(2) Financial
				  Obligation means, with respect to the Program, a:
(A) debt obligation;
(B) derivative instrument entered into in
				  connection with, or pledged as security or a source of a payment for, an
				  existing or planned debt obligation; or
(C) guarantee of a debt obligation or any
				  such derivative instrument; provided that "financial obligation" shall not
				  include municipal securities as to which a final official statement (as defined
				  in the Rule) has been provided to the MSRB consistent with the Rule.
(3) Guaranteed Bonds means
				  obligations for which application is made and granted for a guarantee under the
				  Program.
(4) Issuing District means
				  a school district or charter district which issues Guaranteed Bonds.
(5) MSRB means the Municipal Securities
				  Rulemaking Board or any successor to its functions under the Rule.
(6) Official Statement means each offering
				  document of an Issuing District used in the offering and/or sale of Guaranteed
				  Bonds.
(7) Order means the
				  resolution, order, ordinance or other instrument or instruments of an Issuing
				  District pursuant to which Guaranteed Bonds are issued and the rights of the
				  holders and beneficial owners thereof are established.
(8) Permanent School Fund means the perpetual
				  school fund established by Article VII, Section 2 of the Texas
				  Constitution.
(9) Program means the
				  program of bond guarantee by the Permanent School Fund, which program has been
				  established by Article VII, Sections 2 and 5 of the Texas Constitution, and is
				  administered in accordance with Subchapter C, Chapter
				  45, Texas Education
				  Code, as amended, and the rules and regulations of the Agency. The term Program
				  shall also include the rules, regulations and policies of the Agency with
				  respect to the administration of such program of guarantee of school district
				  bonds, as well as the rules, regulations, policies of the Agency with respect
				  to the administration, and the operational and financial results, of the
				  Permanent School Fund.
(10) Program
				  Regulation means this rule of the Agency which is promulgated for the purpose
				  of establishing and undertaking with respect to the Program which satisfies the
				  requirements of the Rule.
(11) PSF
				  Corporation means the Permanent School Fund Corporation created by the State
				  Board of Education pursuant to, and having the powers set forth in, Subchapter
				  B of Chapter
				  43, Texas Education
				  Code, as amended.
(12) Rule means
				  SEC Rule 15c2-12, as amended from time to time.
(13) SEC means the United States Securities
				  and Exchange Commission.