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Texas Education Code - EDUC § 45.055. Application for Guarantee

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A school district or charter district seeking guarantee of eligible bonds under this subchapter shall apply to the commissioner using a form adopted by the commissioner for the purpose.  The commissioner may adopt a single form on which a school district seeking guarantee or credit enhancement of eligible bonds may apply simultaneously first for guarantee under this subchapter and then, if that guarantee is rejected, for credit enhancement under Subchapter I.

(b) An application under Subsection (a) must include:

(1) the name of the school district or charter district and the principal amount of the bonds to be issued;

(2) the name and address of the district's paying agent for those bonds;  and

(3) the maturity schedule, estimated interest rate, and date of the bonds.

(c) An application under Subsection (a) must be accompanied by a fee set by rule of the board in an amount designed to cover the costs of administering the programs to provide the guarantee or credit enhancement of eligible bonds.

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Cite this article: FindLaw.com - Texas Education Code - EDUC § 45.055. Application for Guarantee - last updated January 01, 2024 | https://codes.findlaw.com/tx/education-code/educ-sect-45-055/

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