Texas Education Code
§ 45.0011 — CREDIT AGREEMENTS IN CERTAIN SCHOOL DISTRICTS
ED § 45.0011Title 2. PUBLIC EDUCATION · Part I. SCHOOL FINANCE AND FISCAL MANAGEMENT · Ch. 45. SCHOOL DISTRICT FUNDS · Art. A. TAX BONDS AND MAINTENANCE TAXES
Statute text
View on source(a)This section applies only to an independent school district that, at the time of the issuance of obligations and execution of credit agreements under this section, has:
(1)at least 2,000 students in average daily attendance; or
(2)a combined aggregate principal amount of at least $50 million of outstanding bonds and voted but unissued bonds.
(b)A district to which this section applies may, in the issuance of bonds as provided by Sections 45.001 and 45.003(b)(1), exercise the powers granted to the governing body of an issuer with regard to the issuance of obligations and execution of credit agreements under Chapter 1371, Government Code.
(c)A proposition to issue bonds to which this section applies must, in addition to meeting the requirements of Section 45.003(b)(1), include the question of whether the governing board or commissioners court may levy, pledge, assess, and collect annual ad valorem taxes, on all taxable property in the district, sufficient, without limit as to rate or amount, to pay the principal of and interest on the bonds and the costs of any credit agreements executed in connection with the bonds.
(d)A district may not issue bonds to which this section applies in an amount greater than the greater of:
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Legislative history
Acts 2019, 86th Leg., R.S., Ch. 943 (H.B. 3), Sec. 3.051, eff. September 1, 2019.