Texas Education Code

§ 53A.49 — BONDS FOR CERTAIN SCHOOLS OWNED AND OPERATED BY NONPROFIT CORPORATIONS

ED § 53A.49Title 3. HIGHER EDUCATION · Part A. HIGHER EDUCATION IN GENERAL · Ch. 53A. HIGHER EDUCATION FACILITY AUTHORITIES FOR PRIVATE SCHOOLS · Art. C. POWERS AND DUTIES

Statute text

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(a)In the same manner that a corporation may issue bonds under this chapter for an institution of higher education, a corporation created under Section 53A.35(b) may issue bonds to finance or refinance educational facilities to be used by a school that:

(1)is located in a county with a population of more than 2.5 million;

(2)is located within three miles of an area designated as an enterprise zone under Chapter 2303, Government Code;

(3)provides primary and secondary education to at least 1,000 students;

(4)is accredited by an organization approved by the Texas Education Agency for private school accreditation; and

(5)is owned and operated by a corporation created under the Texas Nonprofit Corporation Law, as described by Section 1.008(d), Business Organizations Code.

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Legislative history

Acts 2011, 82nd Leg., R.S., Ch. 1163 (H.B. 2702), Sec. 12, eff. September 1, 2011. Acts 2023, 88th Leg., R.S., Ch. 644 (H.B. 4559), Sec. 23, eff. September 1, 2023.