Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 1 - COMPTROLLER OF PUBLIC ACCOUNTS › Chapter 10 - TRANSPARENCY › Subchapter A - ANNUAL REPORT OF FINANCIAL INFORMATION BY POLITICAL SUBDIVISION › Section 10.1 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following phrases, words and terms, when used in this
					 subchapter shall have the following meanings, unless the context clearly
					 indicates otherwise.
(1) Affidavit of
				  financial dormancy--The affidavit described by Water Code, §
										49.197, that may be
				  submitted by a district under §
										10.5
				  of this title (relating to Alternative Form of Financial Information for
				  Report; Alternative Reporting Option Available for Certain Types of Districts)
				  when the district has less than $500 in receipts or disbursements during the
				  calendar year, no bonds or long-term liabilities outstanding during the
				  calendar year, and no cash or investments exceeding $5,000 in a calendar year,
				  or when the district is otherwise considered a financially dormant district in
				  accordance with the requirements of Water Code, Chapter 49, Subchapter
				  G.
(2) Authorized--With respect to
				  a public security, authorized means allowed or directed by a resolution, order,
				  or ordinance that is approved or adopted in a proceeding by the governing body
				  of an issuer in authorizing the issuance of a public security.
(3) Combined principal and interest required
				  to pay all outstanding debt obligations on time and in full--Total amount
				  borrowed (par) that has yet to be repaid plus the cost of interest.
(4) Combined principal and interest required
				  to pay all outstanding debt obligations secured by ad valorem taxation on time
				  and in full--Total amount borrowed (par) of all property tax-secured
				  obligations that has yet to be repaid plus the cost of interest.
(5) Combined principal and interest required
				  to pay all outstanding debt obligations secured by ad valorem taxation on time
				  and in full as a per capita amount--Total debt obligations secured by a pledge
				  of property taxes plus the cost of debt service on these obligations divided by
				  the population of the political subdivision.
(6) Combined principal and interest required
				  to pay each outstanding debt obligations on time and in full--Total amount
				  borrowed (par) plus the cost of interest for each individual debt obligation or
				  bond series.
(7) Current credit
				  rating--Existing rating given by any nationally recognized credit rating
				  organization to debt obligations.
(8) Final maturity date--Final payment date
				  of individual debt obligation at which point all principal and interest will be
				  paid off.
(9) Issuance or
				  issued--The process of authorizing, selling, and delivering public
				  debt.
(10) Official stated purpose
				  for which a debt obligation was authorized--The reason for the debt issuance as
				  described in ballot language if applicable or the official statement.
(11) Outstanding debt obligation--An issued
				  public security that has yet to be repaid.
(12) Outstanding principal--Total amount
				  borrowed that has yet to be repaid.
(13) Political subdivision--A county,
				  municipality, school district, junior college district, other special district,
				  or other subdivision of state government subject to the reporting requirements
				  set forth under Local Government Code, §
										140.008. The
				  term does not include a special purpose district described by Government Code,
				  §
										403.0241(b).
(14) Principal issued--The total amount
				  borrowed.
(15) Proceeds spent--The
				  portion of total proceeds received that have been spent.
(16) Proceeds unspent--The portion of total
				  proceeds received that are remaining to be spent.
(17) Secured in any way by ad valorem
				  taxes--Indicates which individual debt obligations are in part or entirely
				  pledged with property taxes.
(18)
				  Total authorized debt obligations--Debt obligations are defined as public
				  securities which are instruments, including bonds, certificates, notes, or
				  other types of obligations authorized to be issued by an issuer under a
				  statute, a municipal home-rule charter, or the constitution of this
				  state.
(19) Total authorized debt
				  obligations secured by ad valorem taxation--Total debt obligations secured by a
				  pledge of property taxes.
(20)
				  Total authorized debt obligations secured by ad valorem taxation expressed as a
				  per capita amount--Total authorized debt obligations secured by a pledge of
				  property taxes divided by the population of the political
				  subdivision.
(21) Total principal
				  of all outstanding debt obligations--Total amount borrowed (par) of all
				  obligations that have yet to be repaid.
(22) Total principal of all outstanding debt
				  obligations secured by ad valorem taxation--Total amount borrowed (par) of
				  obligations secured by a pledge of property taxes that have yet to be
				  repaid.
(23) Total principal of
				  outstanding debt obligations secured by ad valorem taxation as a per capita
				  amount--Total amount borrowed (par) secured by a pledge of property taxes
				  divided by the population of the political subdivision.
(24) Total proceeds received--Total assets
				  received from the sale of a new issue of public securities.