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Texas Education Code - EDUC § 46.005. Limitation on Guaranteed Amount

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

The guaranteed amount of state and local funds for a new project that a district may be awarded in any state fiscal biennium under Section 46.003 for a school district may not exceed the lesser of:

(1) the amount the actual debt service payments the district makes in the biennium in which the bonds are issued;  or

(2) the greater of:

(A) $100,000;  or

(B) the product of the number of students in average daily attendance in the district multiplied by $250.

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Cite this article: FindLaw.com - Texas Education Code - EDUC § 46.005. Limitation on Guaranteed Amount - last updated January 01, 2024 | https://codes.findlaw.com/tx/education-code/educ-sect-46-005/

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