Texas Education Code Title 3, Chapter 53b - Higher Education Loan Authorities

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 53B.01 - Short Title
  This chapter may be cited as the Higher Education Loan Authority Act. Added by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 2, eff....

SUBCHAPTER B ADMINISTRATIVE PROVISIONS

• Texas Section 53B.02 - Definitions
  In this chapter: (1) "Accredited institution" means an institution that has either been recognized by a recognized accrediting agency, as defined by Section 61.003, or...
• Texas Section 53B.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 53B.12 - Territory
  The authority comprises only the territory included within the boundaries of the city or cities creating it. Added by Acts 2005, 79th Leg., Ch. 641...
• Texas Section 53B.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 53B.131 - Authority's Earnings
  A private person may not share in any of an authority's earnings. Added by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 2, eff....
• Texas Section 53B.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 53B.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 53B.31 - No Taxing Power
  An authority has no power to tax. Added by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 2, eff. September 1, 2005.
• Texas Section 53B.32 - No Power Of Eminent Domain
  The authority does not have the power of eminent domain. Added by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 2, eff. September 1,
• Texas Section 53B.35 - Issuance Of Bonds; Procedure; Etc
  The bonds shall be authorized by resolution adopted by a majority vote of a quorum of the board. Bonds authorized under this section shall be...
• Texas Section 53B.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 53B.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 53B.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 53B.40 - Approval Of Bonds; Registration; Negotiability
  Bonds issued under this chapter and the record relating to their issuance shall be submitted to the attorney general, and if he finds that they...
• Texas Section 53B.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 53B.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 53B.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 53B.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 53B.47 - Guaranteed Student Loans And Alternative Education Loans; Bonds For The Purchase Of Education Loan Notes
  (a) An authority may, upon approval of the city or cities which created the same, issue revenue bonds or otherwise borrow money to obtain funds...
• Texas Section 53B.48 - Qualified Nonprofit Corporation Acting For Or On Behalf Of Two Or More Cities
  (a) A qualified nonprofit corporation described by Section 53B.47(e) that has agreed to exercise the powers enumerated under Section 53B.47 for and on behalf of...

Last modified: September 28, 2016