Texas Administrative Code › Title 1 - ADMINISTRATION › Part 3 - OFFICE OF THE ATTORNEY GENERAL › Chapter 53 - MUNICIPAL SECURITIES › Subchapter M - DEVELOPMENT CORPORATION BONDS › Section 53.197 - Documentation of User

Current through Reg. 49, No. 28; July 12, 2024
The following shall constitute documentation of the
					 user:
(1) undated general certificate
				  of the user, executed by at least two officers or authorized representatives of
				  the user, including certifications and provisions (or confirmation of any such
				  certifications and provisions which are contained in the basic financing
				  documents) with respect to:
(A) due
				  incorporation or creation, valid existence, and good standing;
(B) incumbency of officers executing bond
				  documents;
(C) appointment of
				  authorized representative, if any;
(D) signature identifications;
(E) the bond documents submitted were
				  properly executed by the user, have not been amended or rescinded, and due
				  performance thereof has been authorized by the user;
(F) the terms and performance of the bond
				  documents by the user are not in conflict with the articles of incorporation,
				  bylaws, partnership, or other agreement, of the user or any other instrument or
				  restriction to which the user is a party or subject to;
(G) receipt of all necessary permits and
				  approvals of governmental bodies or agencies with respect to the issuance and
				  sale of the bonds and the user has received or expects to receive and has
				  applied or shall apply with due diligence for all necessary permits and
				  approvals with respect to the construction or operation of the
				  project;
(H) no event has occurred
				  since the date of the user's application to the department that would result in
				  a material adverse change in the financial condition of the user or in the
				  user's ability to perform its obligations under the bond transaction
				  documents;
(I) no default under any
				  agreement to which the user is a party which would have a material adverse
				  effect on the user, or a certification that the corporation has been provided
				  with a complete description of the facts and circumstances of such
				  default;
(J) location of project
				  facilities (whether within the limits of the unit);
(K) no-litigation pending or threatened
				  against the user with respect to the authority of the user to enter into the
				  bond transaction or to perform its obligations thereunder;
(L) documents submitted are in substantially
				  the form approved by or on behalf of the corporation;
(M) all documents, including counsel
				  opinions, are in substantially the form submitted to the department and
				  approved by or on behalf of the corporation or, alternatively, a letter from
				  bond counsel containing a certification to such effect; and
(N) incorporated as exhibits, as applicable
				  (or may be included as separate documents if certified as to accuracy):
(i) copy of articles of incorporation or
				  other evidence of creation as certified by the appropriate state
				  official;
(ii) copy of bylaws,
				  partnership, or other agreement;
(iii) copy of certificate from appropriate
				  state official of state of incorporation or creation of continued existence and
				  good standing, dated within 60 days of transcript submission;
(iv) for a user created outside the State of
				  Texas, copies of certificate of good standing from the comptroller of public
				  accounts of Texas and certificate of the secretary of state of Texas evidencing
				  authority to do business in the State of Texas, both dated within 60 days of
				  transcript submission; and
(v) if a
				  project is to be financed within the limits of a unit different from that of
				  the corporation issuing the bonds, a copy of the request(s) for financing from
				  such unit(s);