Texas Education Code Title 3, Chapter 53 - Higher Education Facility Authorities For Public Schools

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 53.01 - Short Title
  This chapter may be cited as the Higher Education Facility Authority for Public Schools Act. Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1,...

SUBCHAPTER B ADMINISTRATIVE PROVISIONS

• Texas Section 53.02 - Definitions
  In this chapter: (1) "City" means an incorporated city or town in this state. (2) "Governing body" means the council, commission, or other governing body...
• Texas Section 53.11 - Creation Of Authority
  When the governing body of a city finds that it is to the best interest of the city and its inhabitants to create a higher...
• Texas Section 53.12 - Territory
  The authority comprises only the territory included within the boundaries of the city or cities creating it. Acts 1971, 62nd Leg., p. 3072, ch. 1024,...
• Texas Section 53.13 - Corporate Powers
  An authority is a body politic and corporate having the power of perpetual succession. It shall have a seal; it may sue and be sued;...
• Texas Section 53.131 - Authority's Earnings
  A private person may not share in any of an authority's earnings. Added by Acts 1983, 68th Leg., p. 861, ch. 200, Sec. 3, eff....
• Texas Section 53.14 - Board Of Directors
  (a) The authority shall be governed by a board of directors consisting of not less than 7 nor more than 11 members to be determined...

SUBCHAPTER C POWERS AND DUTIES

• Texas Section 53.15 - Organization Of Board; Quorum; Employees; Counsel
  (a) The board shall elect from among its members a president and vice president, and shall elect a secretary and a treasurer who may or...
• Texas Section 53.31 - No Taxing Power
  An authority has no power to tax. Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971. Reenacted and...
• Texas Section 53.32 - No Power Of Eminent Domain
  The authority does not have the power of eminent domain. Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1,...
• Texas Section 53.33 - Limited Power To Acquire, Own, And Operate Educational And Housing Facilities
  (a) An authority or a nonprofit instrumentality created under Section 53.35(b) may acquire, own, hold title to, lease, or operate an educational facility or housing...
• Texas Section 53.331 - Refinancing Facilities
  The authority may refinance any educational or housing facility acquired, constructed, or improved. Added by Acts 1983, 68th Leg., p. 863, ch. 200, Sec. 6,...
• Texas Section 53.34 - Revenue Bonds
  (a) An authority or a nonprofit instrumentality created under Section 53.35(b), including an authority or nonprofit instrumentality authorized to own facilities under Section 53.33(a), may...
• Texas Section 53.35 - Issuance Of Bonds; Procedure; Etc
  (a) The bonds shall be authorized by resolution adopted by a majority vote of a quorum of the board. Bonds authorized under this section shall...
• Texas Section 53.351 - Bonds For Open-enrollment Charter School Facilities
  (a) The Texas Public Finance Authority shall establish a nonprofit corporation to act on behalf of the state, as its duly constituted authority and instrumentality,...
• Texas Section 53.352 - Limitation On Liability Of Corporation
  A director, officer, or employee of the nonprofit corporation established by the Texas Public Finance Authority under Section 53.351 is not personally liable: (1) for...
• Texas Section 53.36 - Bond Resolution; Notice; Election
  (a) Before authorizing the issuance of bonds, other than refunding bonds, the board shall cause a notice to be issued stating that it intends to...
• Texas Section 53.37 - Junior Lien Bonds; Parity Bonds
  Bonds constituting a junior lien on the net revenue or properties may be issued unless prohibited by the bond resolution or trust indenture. Parity bonds...
• Texas Section 53.38 - Reserves For Operating And Other Expenses
  Money for the payment of not more than two years' interest on the bonds and an amount estimated by the board to be required for...
• Texas Section 53.39 - Refunding Bonds
  Bonds may be issued for the purpose of refunding outstanding bonds in the manner provided in this chapter for other bonds, and may be exchanged...
• Texas Section 53.40 - Approval Of Bonds; Registration; Negotiability
  (a) Bonds issued under this chapter and the record relating to their issuance shall be submitted to the attorney general, and if the attorney general...
• Texas Section 53.41 - Authorized Investments
  All bonds issued under this chapter are legal and authorized investments for all banks, savings banks, trust companies, building and loan associations, savings and loan...
• Texas Section 53.42 - Investment Of Funds; Security
  To the extent it is applicable, the law as to the security for and the investment of funds, applicable to cities, controls the investment of...
• Texas Section 53.43 - Depositories
  The authority may select a depository or depositories according to the procedures provided by law for the selection of city depositories, or it may award...
• Texas Section 53.44 - Operation Of Facilities; Rates Charged; Reserve Funds
  (a) The facilities may be operated by the authority without the intervention of private profit for the use and benefit of the public, or may...
• Texas Section 53.45 - Transactions With Other Agencies And Persons
  The authority may borrow money and accept grants from, and enter into contracts, leases, or other transactions with the United States, the State of Texas,...
• Texas Section 53.46 - Authority Exempt From Taxation
  Because the property owned by authority will be held for educational purposes only and will be devoted exclusively to the use and benefit of the...
• Texas Section 53.48 - Bonds For Authorized Charter Schools
  In the same manner that a corporation may issue and execute bonds or other obligations under this chapter for an institution of higher education, a...

Last modified: September 28, 2016