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State Law
Federal Law
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Texas Education Code - Chapter 45 School District FundsLegal Research Home > Texas Lawyer > Education Code > Texas Education Code - Chapter 45 School District Funds (a) The governing board of an independent school district, including the city council or commission that has jurisdiction over a municipally controlled independent school district, ... (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 ... The governing board of an independent school district, including the city council or commission that has jurisdiction over a municipally controlled independent school district, the ... (a) Bonds described by Section 45.001 may not be issued and taxes described by Section 45.001 or 45.002 may not be levied unless authorized by ... (a) Before issuing bonds described by Section 45.001, a school district must demonstrate to the attorney general under Subsection (b) or (c) that, with respect ... (a) In this section: (1) "Bond" includes a note or other evidence of indebtedness. (2) "Total debt service" means the amount of principal and unpaid ... All bonds issued pursuant to this subchapter, and the appropriate proceedings authorizing their issuance, shall be submitted to the attorney general for examination. Added by ... (a) This section applies only to a school district that: (1) has an average daily attendance of less than 10,000; and (2) is located in ... The governing board of an independent school district, including the city council or commission that has jurisdiction over a municipally controlled independent school district, the ... To provide funds to acquire, construct, improve, or equip gymnasia, stadia, or other recreational facilities, the board, city council or commission, or commissioners court may ... The board, city council or commission, or commissioners court may set and collect rentals, rates, and charges from students and others for the occupancy or ... The board, city council or commission, or commissioners court may pledge all or any part of any of its revenues from the facilities to the ... Revenue bonds issued by a board, city council or commission, or commissioners court under this subchapter and revenue bonds issued by a board, city council ... All bonds issued pursuant to this subchapter, and the appropriate proceedings authorizing their issuance, shall be submitted to the attorney general for examination. Added by ... In this subchapter: (1) "Board" means the State Board of Education. (2) "Paying agent" means the financial institution that is designated by a school district ... On approval by the commissioner, bonds issued under Subchapter A, including refunding bonds, are guaranteed by the corpus and income of the permanent school fund. ... (a) The commissioner may not approve bonds for guarantee if the approval would result in the total amount of outstanding guaranteed bonds exceeding an amount ... To be eligible for approval by the commissioner, bonds must be issued under Subchapter A of this chapter or under Subchapter A, Chapter 1207, Government ... (a) A school district seeking the guarantee of eligible bonds shall apply to the commissioner. (b) The application must include: (1) the name of the ... (a) Following receipt of an application for the guarantee of bonds, the commissioner shall conduct an investigation of the applicant school district in regard to: ... (a) The commissioner shall endorse bonds approved for guarantee with: (1) the commissioner's signature or a facsimile of the commissioner's signature; and (2) a statement ... Immediately following a determination that a school district will be or is unable to pay maturing or matured principal or interest on a guaranteed bond, ... (a) Immediately following receipt of notice under Section 45.058, the commissioner shall instruct the comptroller to transfer from the appropriate account in the permanent school ... If a school district fails to pay principal or interest on a guaranteed bond when it matures, other amounts not yet mature are not accelerated ... (a) If the commissioner orders payment from the permanent school fund on behalf of a school district, the commissioner shall direct the comptroller to withhold ... (a) If two or more payments from the permanent school fund are made on the guaranteed bonds of a school district and the commissioner determines ... The board may adopt rules necessary for the administration of the bond guarantee program. Added by Acts 1995, 74th Leg., ch. 260, § 1, eff. ... In this subchapter: (a) "District" means an independent school district. (b) "Board" means the governing body of a district. (c) "Real property" means any interest ... (a) The board of a district may sell real property owned by the district and issue revenue bonds payable from the proceeds of the sale ... Section 272.001, Local Government Code, Chapter 26, Parks and Wildlife Code, and all other general laws pertaining to the sale of public property do not ... The district may execute contracts for constructing or equipping school buildings in the district or for purchasing any necessary sites for school buildings in the ... (a) In addition to the powers granted by this subchapter, any board, for and on behalf of its district, may issue, sell, and deliver revenue ... This subchapter shall be construed liberally to accomplish the legislative intent and the purposes of the subchapter, and all powers granted by this subchapter shall ... This subchapter does not restrict the power of a school district to sell property or issue bonds as provided by other law. Added by Acts ... The proceeds of bonds issued by school districts for the construction and equipment of school buildings in the district and the purchase of the necessary ... (a) A school district that has on hand proceeds received from the issuance and sale of bonds or certificates of indebtedness of the district that ... (a) Any school district in need of funds to construct, repair, or renovate school buildings, purchase school buildings and school equipment, or equip school properties ... (a) The board of trustees of any school district may pledge its delinquent taxes levied for maintenance purposes for specific past, current, and future school ... (a) The public school funds may not be spent except as provided by this section. (b) The state and county available funds may be used ... (a) A school district or accumulation of districts that operates a school designated as an area school for career and technology education purposes or that ... A gift, devise, or bequest made to a school district to provide college scholarships for graduates of the district may be invested by the board ... (a) Independent or consolidated school districts may borrow money for the purpose of paying maintenance expenses and may evidence those loans with negotiable notes, except ... (a) Any independent school district, acting by and through its board of trustees, may contract with any corporation, municipality, or institution of higher education, as ... (a) This section applies to any independent school district that has previously voted or authorized school bonds for a specific purpose or purposes and the ... (a) Any school district, including a junior college district, situated in a county with a population of 200,000 or more may issue interest-bearing certificates of ... (a) A school district, including a junior college district or community college district, may enter into a contract with a term not to exceed seven ... In this subchapter: (1) "District" means any independent school district. (2) "Stadium" means the structural and associated facilities designed for staging and holding athletic contests ... (a) If the boards of trustees of two districts find that it is to the best interest of the districts to create an athletic stadium ... (a) An authority is governed by a board of directors consisting of seven members. The members of the board serve terms ending May 1. A ... An authority may construct, enlarge, furnish, and equip stadia, purchase existing stadia, furnishings, and equipment for its stadia, and operate and maintain stadia. A stadium ... (a) An authority may issue revenue bonds to provide funds for any of its purposes. The bonds shall be payable from and secured by a ... (a) Any district, acting by and through its board of trustees, may contract with any athletic stadium authority organized under this subchapter for the use ... Bonds issued under this subchapter and the record relating to their issuance shall be submitted to the attorney general. Added by Acts 1995, 74th Leg., ... (a) The board of directors shall charge sufficient rates for services rendered by the stadium and shall use other sources of its revenues so that ... An authority may select a depository according to the procedures provided by law for the selection of independent school district depositories. Added by Acts 1995, ... Recognizing the fact that the property owned by an authority will be held for public purposes only and will be devoted exclusively to the use ... For the purpose of carrying out any power conferred by this subchapter, an authority may acquire the fee simple title to land and other property ... In addition to other powers, an authority may invest the proceeds of its bonds, until that money is needed, in the direct obligations of or ... The board of directors may accept donations, gifts, and endowments to be held and administered as may be required by the respective donors, to the ... In this subchapter: (1) "School district" means any independent school district. (2) "Bank" means a bank, a savings and loan association, or a savings bank ... The school depository or depositories of every independent school district may be selected only as provided by this subchapter. Added by Acts 1995, 74th Leg., ... A school depository must be a bank located in this state. Added by Acts 1995, 74th Leg., ch. 260, § 1, eff. May 30, 1995. ... (a) If a member of the board of trustees of a school district is a stockholder, officer, director, or employee of a bank, the bank ... (a) Except as provided by Subsection (b), the depository bank when selected shall serve for a term of two years and until its successor is ... (a) The board of trustees of each school district shall, at least 30 days before the termination of the current depository contract, mail to each ... (a) If tie bids are received for a school depository contract and each of the tie bidders has bid to pay the school district the ... (a) The bank or banks selected as school depository or depositories and the school district shall enter into a depository contract or contracts, bond or ... The school district may provide in its bid blank for the right to place on time deposits with savings and loan institutions located in this ... (a) The board of trustees of an independent school district may employ a person to assess or collect the school district's taxes and may compensate ... An independent school district that used a method of selecting the assessor or collector of the school district's taxes for the 1994 tax year that ... Last modified: August 10, 2007 |