Sec. 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, Sec. 1.04, eff. Sept. 1, 1997.
Section: Previous 46.001 46.002 46.003 46.004 46.005 46.006 46.007 46.008 46.0081 46.009 46.010 46.011 46.0111 46.012 46.013 NextLast modified: September 28, 2016