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Texas Education Code - EDUC § 45.114. Bond, Tax, and Project Database

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

(a) In this section:

(1) "Bond" means a bond described by Section 45.001.

(2) "Charter district" means an open-enrollment charter school designated as a charter district under Section 12.135.

(3) "Database" means the database established under this section.

(4) "Maintenance tax" means a tax described by Section 45.002.

(b) The agency shall develop and maintain a database that includes current information regarding school district or open-enrollment charter school, including charter district, bonds, taxes, and bond-related projects, including:

(1) for each bond planned, proposed, or issued by a school district:

(A) the language of the ballot proposition under Section 45.003(b);

(B) the projected interest and sinking fund tax rate associated with a proposed bond;

(C) the result of an election held for the purpose of issuing a proposed bond;

(D) a list of the projects to be funded using the bond;

(E) an accounting of the use of the proceeds of any issued bond, including descriptions of any projects paid for with the proceeds;

(F) other data related to capital projects, such as new or renovated facilities, funded wholly or partly using the bond, including data regarding funding sources for the projects, project costs, project budget, and project size;  and

(G) any increase in the interest and sinking fund tax rate resulting from issued bonds;

(2) for each bond issued for an open-enrollment charter school, including a charter district:

(A) a list of the projects to be funded using the bond;  and

(B) an accounting of the use of the proceeds of any issued bond, including descriptions of any projects paid for with the proceeds;

(3) for maintenance taxes that have been levied or proposed by a school district:

(A) each school district's proposed or approved tax rate;  and

(B) the language of the ballot proposition under Section 45.003(d);

(4) the results of any election held under Section 26.08, Tax Code, including the ad valorem tax rate proposed by the school district for purposes of the election;

(5) a report generation function to allow the agency to generate reports of the information described by Subdivisions (1), (2), and (3), as applicable, for each school district and open-enrollment charter school, including a charter district, disaggregated by geographic area;  and

(6) a function that allows for the proposal of updates or corrections to the information included in the database.

(c) A school district or open-enrollment charter school, including a charter district, shall provide the agency with the information described by Subsections (b)(1) through (4) and any other information requested by the agency for the purpose of maintaining the database established under this section.

(d) The agency may contract with a third party as necessary for the development or maintenance of the database under this section.

(e) The agency shall transmit the information described above to the Bond Review Board to satisfy the local government reporting requirements under Section 1231.025 of the Government Code.

(f) The commissioner may adopt rules as necessary to implement this section.

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Cite this article: FindLaw.com - Texas Education Code - EDUC § 45.114. Bond, Tax, and Project Database - last updated January 01, 2024 | https://codes.findlaw.com/tx/education-code/educ-sect-45-114/

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