Texas Education Code - Section 46.005. Limitation On Guaranteed Amount
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§ 46.005. LIMITATION ON GUARANTEED AMOUNT. 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.
Added by Acts 1997, 75th Leg., ch. 592, § 1.04, eff. Sept. 1,
1997.
Section: 45.209 45.231 45.232 46.001 46.002 46.003 46.004 46.005 46.006 46.007 46.008 46.0081 46.009 46.010 46.011
Last modified: August 10, 2007
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