SUBCHAPTER A TAX BONDS AND MAINTENANCE TAXES
- Texas Section 45.001 - Bonds And Bond Taxes
(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,...
- Texas Section 45.0011 - Credit Agreements In Certain School Districts
(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...
- Texas Section 45.002 - Maintenance Taxes
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...
- Texas Section 45.003 - Bond And Tax Elections
(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...
- Texas Section 45.0031 - Limitation On Issuance Of Tax-supported Bonds
(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...
- Texas Section 45.004 - Refunding Bonds
(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...
- Texas Section 45.005 - Examination Of Bonds By Attorney General
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...
SUBCHAPTER B REVENUE BONDS
- Texas Section 45.006 - Maintenance Tax Required For Judgment Ordering Ad Valorem Tax Refund; Bonds
(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...
- Texas Section 45.031 - Gymnasia, Stadia, And Other Recreational Facilities
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...
- Texas Section 45.032 - Revenue Bonds
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...
- Texas Section 45.033 - Rentals, Rates, And Charges
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...
- Texas Section 45.034 - Pledge Of Revenues
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...
- Texas Section 45.035 - Refunding Bonds
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...
SUBCHAPTER C GUARANTEED BONDS
- Texas Section 45.036 - Examination Of Bonds By Attorney General
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...
- Texas Section 45.051 - Definitions
In this subchapter: (1) "Board" means the State Board of Education. (1-a) "Charter district" means an open-enrollment charter school designated as a charter district under...
- Texas Section 45.052 - Guarantee
(a) On approval by the commissioner, bonds issued under Subchapter A by a school district or Chapter 53 for a charter district, including refunding and...
- Texas Section 45.053 - Limitation; Value Estimates
(a) Except as provided by Subsection (d), the commissioner may not approve bonds for guarantee under this subchapter if the approval would result in the...
- Texas Section 45.0531 - Additional Limitation: Reservation Of Percentage Of Permanent School Fund Value
(a) In addition to the limitation on the approval of bonds for guarantee under Section 45.053, the board by rule may establish a percentage of...
- Texas Section 45.0532 - Limitation On Guarantee Of Charter District Bonds
(a) In addition to the general limitation under Section 45.053, the commissioner may not approve charter district bonds for guarantee under this subchapter in a...
- Texas Section 45.054 - Eligibility Of School District Bonds
To be eligible for approval by the commissioner, school district bonds must be issued under Subchapter A of this chapter or under Subchapter A, Chapter...
- Texas Section 45.0541 - Eligibility Of Charter District Bonds
To be eligible for approval by the commissioner, charter district bonds must: (1) without the guarantee, be rated as investment grade by a nationally recognized...
- Texas Section 45.055 - Application For Guarantee
(a) A school district or charter district seeking guarantee of eligible bonds under this subchapter shall apply to the commissioner using a form adopted by...
- Texas Section 45.056 - Investigation
(a) Following receipt of an application for the guarantee of bonds, the commissioner shall conduct an investigation of the applicant school district or charter district...
- Texas Section 45.057 - Guarantee Endorsement
(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...
- Texas Section 45.0571 - Charter District Bond Guarantee Reserve Fund
(a) The charter district bond guarantee reserve fund is a special fund in the state treasury outside the general revenue fund. The following amounts shall...
- Texas Section 45.058 - Notice Of Default
Immediately following a determination that a school district or charter district will be or is unable to pay maturing or matured principal or interest on...
- Texas Section 45.059 - Payment Of School District Bond On Default
(a) Immediately following receipt of notice under Section 45.058 that a school district will be or is unable to pay maturing or matured principal or...
- Texas Section 45.0591 - Payment Of Charter District Bond On Default
(a) Immediately following receipt of notice under Section 45.058 that a charter district will be or is unable to pay maturing or matured principal or...
- Texas Section 45.060 - Bonds Not Accelerated On Default
If a school district or charter district fails to pay principal or interest on a guaranteed bond when it matures, other amounts not yet mature...
- Texas Section 45.061 - Reimbursement Of Funds
(a) If the commissioner orders payment from the permanent school fund or the charter district bond guarantee reserve fund on behalf of a school district...
- Texas Section 45.062 - Repeated Defaults
(a) If a total of two or more payments are made under this subchapter or Subchapter I on the bonds of a school district and...
SUBCHAPTER D SALE OF SURPLUS REAL PROPERTY; REVENUE BONDS
- Texas Section 45.063 - Rules
The board may adopt rules necessary for the administration of the bond guarantee program. Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff....
- Texas Section 45.081 - Definitions
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...
- Texas Section 45.082 - Sale Of Property; Revenue Bonds
(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...
- Texas Section 45.083 - Other Laws Not Applicable
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...
- Texas Section 45.084 - Contracts
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...
- Texas Section 45.085 - Bond Requirements
(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...
- Texas Section 45.086 - Liberal Construction
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...
SUBCHAPTER E MISCELLANEOUS PROVISIONS
- Texas Section 45.087 - Other Powers Unrestricted
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...
- Texas Section 45.101 - Use Of Bond Proceeds For Utility Connections
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...
- Texas Section 45.102 - Investment Of Bond Proceeds In Obligations Of United States Or Interest-bearing Secured Time Bank Deposits
(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...
- Texas Section 45.103 - Interest-bearing Time Warrants
(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...
- Texas Section 45.104 - Pledge Of Delinquent Taxes As Security For Loan
(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...
- Texas Section 45.105 - Authorized Expenditures
(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...
- Texas Section 45.106 - Use Of County Available Fund Apportionment For Area Schools Career And Technology Education
(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...
- Texas Section 45.107 - Investment Of Gifts, Devises, And Bequests
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...
- Texas Section 45.108 - Borrowing Money For Current Maintenance Expenses
(a) Independent or consolidated school districts may borrow money for the purpose of paying maintenance expenses and may evidence those loans with negotiable or nonnegotiable...
- Texas Section 45.109 - Contracts For Athletic Facilities
(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...
- Texas Section 45.110 - Authorized But Unissued Bonds
(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...
- Texas Section 45.111 - Certificates Of Indebtedness; Issuance By Certain School And Junior College Districts
(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...
- Texas Section 45.112 - Contracts For Investment Of Debt Service Funds
(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...
SUBCHAPTER F ATHLETIC STADIUM AUTHORITIES
- Texas Section 45.113 - Trust For County Permanent School Fund
(a) Notwithstanding former Subchapter E, Chapter 17, as that subchapter existed on May 1, 1995, the commissioners court of a county may: (1) sell or...
- Texas Section 45.151 - Definitions
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...
- Texas Section 45.152 - Creation Of Authority
(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...
- Texas Section 45.153 - Board Of Directors
(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...
- Texas Section 45.154 - Construction, Acquisition, And Operation Of Stadium
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...
- Texas Section 45.155 - Bonds
(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...
- Texas Section 45.156 - Contracts With School Districts
(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...
- Texas Section 45.157 - Examination Of Bonds By Attorney General
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.,...
- Texas Section 45.158 - Charges For Use Of Stadium
(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...
- Texas Section 45.159 - Depository
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,...
- Texas Section 45.160 - Tax Exemption
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...
- Texas Section 45.161 - Eminent Domain
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...
- Texas Section 45.162 - Investment Of Bond Proceeds
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...
SUBCHAPTER G SCHOOL DISTRICT DEPOSITORIES
- Texas Section 45.163 - Acceptance Of Gifts
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...
- Texas Section 45.201 - Definitions
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...
- Texas Section 45.202 - Selection Of Depository
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.,...
- Texas Section 45.203 - Depository Must Be A Bank
A school depository must be a bank located in this state. Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995.
- Texas Section 45.204 - Conflict Of Interest
(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...
- Texas Section 45.205 - Term Of Contract
(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...
- Texas Section 45.206 - Bid Or Request For Proposal Notices; Bid And Proposal Forms
(a) Not later than the 60th day before the date a school district's current depository contract expires, the district shall choose whether to select a...
- Texas Section 45.207 - Award Of Contract
(a) A school district shall award the depository contract to the bank that submits the highest bid or the highest-ranked proposal, as determined under Subsection...
- Texas Section 45.208 - Depository Contract; Bond
(a) The bank or banks selected as the depository or depositories and the school district shall enter into a depository contract or contracts, bond or...
SUBCHAPTER H ASSESSMENT AND COLLECTION OF TAXES
- Texas Section 45.209 - Investment Of District Funds
The school district may provide in its bid or proposal blank for the right to place on time deposits with savings and loan institutions located...
- Texas Section 45.231 - Employment Of Assessor And Collector
(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...
SUBCHAPTER I INTERCEPT PROGRAM TO PROVIDE CREDIT ENHANCEMENT FOR BONDS
- Texas Section 45.232 - Alternate Methods Of Selection Under Former Law
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...
- Texas Section 45.251 - Definitions
In this subchapter: (1) "Board" means the State Board of Education. (2) "Foundation School Program" means the program established under Chapters 41, 42, and 46,...
- Texas Section 45.252 - Intercept Credit Enhancement Program
(a) If a school district's application for guarantee of district bonds by the corpus and income of the permanent school fund as provided by Subchapter...
- Texas Section 45.253 - Limitation On Intercept Credit Enhancement
(a) In each month of each fiscal year, the commissioner shall determine the amount of funds available to make payments under this subchapter from the...
- Texas Section 45.254 - Eligibility
To be eligible for approval by the commissioner for credit enhancement under this subchapter: (1) bonds must be issued in the manner provided by Section...
- Texas Section 45.2541 - Intercept Of Foundation School Program Appropriations As Credit Enhancement
(a) Money appropriated for the Foundation School Program that may be used for the purpose under this subchapter and under any other law, rule, or...
- Texas Section 45.255 - Application For Credit Enhancement
(a) A school district seeking credit enhancement of eligible bonds under this subchapter shall apply to the commissioner using a form adopted by the commissioner...
- Texas Section 45.256 - Investigation
(a) Following receipt of an application under Section 45.255, the commissioner shall conduct an investigation of the applicant school district as provided for an investigation...
- Texas Section 45.257 - Credit Enhancement Endorsement
(a) The commissioner shall endorse bonds approved for credit enhancement under this subchapter in substantially the same manner provided under Section 45.057 for endorsing bonds...
- Texas Section 45.258 - Notice Of Failure Or Inability To Pay
Immediately following a determination that a school district will be or is unable to pay maturing or matured principal or interest on a bond for...
- Texas Section 45.259 - Payment From Intercepted Funds
(a) Immediately following receipt of notice under Section 45.258, the commissioner shall instruct the comptroller to transfer to the district's paying agent from appropriations to...
- Texas Section 45.260 - Bonds Not Accelerated On Failure To Pay
If a school district fails to pay principal or interest on a bond for which credit enhancement is provided under this subchapter when the amount...
- Texas Section 45.261 - Reimbursement Of Foundation School Program
(a) If the commissioner orders payment from the money appropriated to the Foundation School Program on behalf of a school district that is not required...
- Texas Section 45.262 - Repeated Failure To Pay
(a) If a total of two or more payments are made under Subchapter C or this subchapter on the bonds of a school district and...
SUBCHAPTER J OPEN-ENROLLMENT CHARTER SCHOOL FACILITIES CREDIT ENHANCEMENT PROGRAM
- Texas Section 45.263 - Rules
(a) The commissioner shall adopt rules necessary for the administration of the bond credit enhancement program under this subchapter. (b) In adopting rules under Subsection...
- Texas Section 45.301 - Definitions
In this subchapter: (1) "Charter holder" has the meaning assigned by Section 12.1012. (2) "Program" means the open-enrollment charter school facilities credit enhancement program established...
- Texas Section 45.302 - Establishment Of Program
(a) The commissioner by rule may establish an open-enrollment charter school facilities credit enhancement program to assist charter holders in obtaining financing for the purchase,...
- Texas Section 45.303 - Limitation On Participation; Minimum Requirements For Debt Service Reserve
In adopting rules under Section 45.302, the commissioner may: (1) limit participation in the program to charter holders who hold charters for open-enrollment charter schools...
- Texas Section 45.304 - Allocation Of Portion Of Foundation School Program Funds For Credit Enhancement
(a) The commissioner may allocate not more than one percent of the amount appropriated for the Foundation School Program for purposes of the program under...
- Texas Section 45.305 - Private Matching Funds Required; Use Of Other State Funds
(a) The commissioner may not implement the program unless private funds in an amount at least equal to the amount of state funds allocated under...
- Texas Section 45.306 - Repayment; Lien
(a) If a charter holder on behalf of which the state makes a payment under the program does not immediately repay the Foundation School Program...
- Texas Section 45.307 - Status Of Program
(a) The program is separate from and does not create any claim to the credit enhancement program for school district bonds under Subchapter I. (b)...
- Texas Section 45.308 - Rules
If the commissioner establishes a program under this subchapter, the commissioner shall adopt rules to administer the program. Added by Acts 2009, 81st Leg., R.S.,...