Texas Government Code Title 9, Chapter 1232 - Texas Public Finance Authority

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 1232.001 - Short Title
  This chapter may be cited as the Texas Public Finance Authority Act. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,
• Texas Section 1232.002 - Purpose
  The purpose of this chapter is to provide a method of financing for: (1) the acquisition or construction of buildings; and (2) the purchase or...
• Texas Section 1232.003 - Definitions
  In this chapter: (1) "Authority" means the Texas Public Finance Authority. (2) "Board" means the board of directors of the authority. (3) "Building" means: (A)...
• Texas Section 1232.004 - State Lease Fund Account
  (a) The state lease fund account is an account in the general revenue fund and may be used only for a purpose designated by law....

SUBCHAPTER B TEXAS PUBLIC FINANCE AUTHORITY

• Texas Section 1232.005 - Application Of State Funds Reform Act
  All money paid to the authority under this chapter is subject to Subchapter F, Chapter 404. Added by Acts 1999, 76th Leg., ch. 227, Sec....
• Texas Section 1232.051 - Texas Public Finance Authority
  The Texas Public Finance Authority is a public authority and a body politic and corporate. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1,...
• Texas Section 1232.052 - Composition Of Governing Board
  (a) The authority is governed by a board of directors composed of seven members appointed by the governor with the advice and consent of the...
• Texas Section 1232.053 - Terms
  Members of the board are appointed for staggered terms of six years, with two or three members' terms expiring February 1 of each odd-numbered year....
• Texas Section 1232.054 - Grounds For Removal
  (a) It is a ground for removal from the board that a member: (1) violates a prohibition established by Section 1232.060; (2) cannot because of...
• Texas Section 1232.055 - Board Member Training
  (a) To be eligible to take office as a member of the board, a person appointed to the board must complete at least one course...
• Texas Section 1232.056 - Officers; Meetings
  (a) The governor shall designate a member of the board as the presiding officer to serve in that capacity at the pleasure of the governor....
• Texas Section 1232.057 - Public Testimony At Board Meetings
  The board shall develop and implement policies that provide the public with a reasonable opportunity to appear before the board and to speak on any...
• Texas Section 1232.058 - Compensation And Expenses
  A board member is entitled to: (1) a per diem of $50, unless otherwise specified in the General Appropriations Act, for each day the member...
• Texas Section 1232.059 - Staff; Consultants
  (a) The board shall employ persons and contract with consultants necessary for the board to perform its functions. (b) Employees of the authority are considered...
• Texas Section 1232.060 - Conflict Of Interest
  (a) An officer, employee, or paid consultant of a Texas trade association in the field of public finance may not be a member of the...
• Texas Section 1232.061 - Information On Responsibilities Of Board Members And Employees
  The executive director of the authority or the executive director's designee shall provide to members of the board and to authority employees, as often as...
• Texas Section 1232.062 - Separation Of Policymaking And Management Responsibilities
  The board shall develop and implement policies that clearly separate the policymaking responsibilities of the board and the management responsibilities of the executive director and...
• Texas Section 1232.063 - Equal Employment Opportunity
  (a) The executive director of the authority or the executive director's designee shall prepare and maintain a written policy statement to assure implementation of a...
• Texas Section 1232.064 - Career Ladder; Employee Performance Evaluations
  (a) The executive director of the authority or the executive director's designee shall develop an intra-agency career ladder program that addresses opportunities for mobility and...
• Texas Section 1232.065 - Compliance With Laws Relating To Accessibility
  The authority shall comply with federal and state laws related to program and facility accessibility. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1,...
• Texas Section 1232.066 - Board Authority
  (a) The board's authority under this chapter is limited to the financing of: (1) the acquisition or construction of a building; (2) the purchase or...
• Texas Section 1232.067 - General Powers
  The board may: (1) exercise, to the extent practicable, all powers given to a corporation under the general laws of the state; (2) have perpetual...
• Texas Section 1232.068 - Eminent Domain
  The authority may exercise the power of eminent domain for the purposes set forth in this chapter in connection with the acquisition or construction of...
• Texas Section 1232.070 - Information On Complaints
  (a) The authority shall keep a file about each written complaint filed with the authority that the authority has authority to resolve. The authority shall...
• Texas Section 1232.071 - Relationship To Previous Board
  (a) The Texas Public Finance Authority owns the property formerly owned by, and is the successor to each lease or rental contract entered into by,...
• Texas Section 1232.072 - Sunset Provision
  The Texas Public Finance Authority is subject to Chapter 325 (Texas Sunset Act). Unless continued in existence as provided by that chapter, the authority is...

SUBCHAPTER C OBLIGATIONS

• Texas Section 1232.073 - Negotiated Rulemaking And Alternative Dispute Resolution
  (a) The board shall develop and implement a policy to encourage the use of: (1) negotiated rulemaking procedures under Chapter 2008 for the adoption of...
• Texas Section 1232.101 - Issuance Of Bonds For Certain State Agencies
  (a) With respect to all bonds authorized to be issued by or on behalf of the Texas Military Department, Parks and Wildlife Department, Texas Agricultural...
• Texas Section 1232.102 - Issuance Of Bonds For State Office Buildings
  (a) The board may issue and sell bonds in the name of the authority to finance the acquisition or construction of buildings. After receiving a...
• Texas Section 1232.1025 - Issuance Of Bonds For Military Facilities
  (a) The board may issue and sell bonds in the name of the authority to finance the acquisition or construction of buildings to be used...
• Texas Section 1232.103 - Issuance Of Obligations For Equipment
  (a) The authority may issue and sell obligations for the financing of: (1) a lease or other agreement that concerns equipment that an executive or...
• Texas Section 1232.104 - Issuance Of Obligations For Alternative Fuel Projects
  (a) If the authority determines that a project is financially viable and sufficient revenue is or will be available, the authority may issue and sell...
• Texas Section 1232.105 - Aggregate Limit On Issuance Of Obligations For Alternative Fuel Projects
  The authority may not issue and sell more than $50 million in obligations for projects under Section 1232.104. Added by Acts 1999, 76th Leg., ch....
• Texas Section 1232.106 - Evaluation Of Application For Assistance With Alternative Fuel Projects
  (a) The Alternative Fuels Council shall evaluate an application by an eligible entity for the financing under Section 1232.104 of the acquisition, construction, or improvement...
• Texas Section 1232.107 - Purchase Of Obligations For Alternative Fuel Projects
  (a) The authority may use the proceeds of obligations issued under Section 1232.104 to purchase, at a price determined by the authority, an obligation of...
• Texas Section 1232.1071 - Issuance Of Obligations For Financing Stranded Costs Of Municipal Power Agency
  (a) The authority may, either directly or by means of a trust or trusts established by it, issue obligations or other evidences of indebtedness for...
• Texas Section 1232.108 - Legislative Authorization Required
  Except as permitted by Section 1232.109, 2166.452, or 2166.453, before the board may issue and sell bonds, the legislature by the General Appropriations Act or...
• Texas Section 1232.109 - Authorization To Purchase Certain Real Property
  (a) Because there is a continued need to acquire real property in or in the immediate vicinity of state office building complexes for the continued...
• Texas Section 1232.110 - Specific Projects
  The board may issue bonds under Section 1232.102 for the following projects: ProjectEstimated CostState Board of Insurance Building in Travis County; facilities associated with relocation...
• Texas Section 1232.111 - Certain Projects By Texas Department Of Transportation
  (a) The authority may issue and sell obligations to finance one or more projects described by Section 201.1055(a), Transportation Code. Notwithstanding Section 1232.108(2), the estimated...
• Texas Section 1232.1115 - Certain Construction And Repair Projects And Equipment Purchases; General Obligation Bonds
  (a) The authority has the exclusive power to issue general obligation bonds under Section 50-f, Article III, Texas Constitution. The board shall issue the bonds...
• Texas Section 1232.1116 - Certain Maintenance, Improvement, Repair, And Construction Projects; General Obligation Bonds
  (a) The authority has the exclusive power to issue general obligation bonds under Section 50-g, Article III, Texas Constitution. The board shall issue the bonds...
• Texas Section 1232.112 - Bond Review Board Approval
  (a) The authority may not issue obligations until the Bond Review Board has approved the issuance under Chapter 1231. (b) The Bond Review Board may...
• Texas Section 1232.113 - Obligation Issuance Orientation; Information To And From Client Agencies
  (a) In this section, "client agency" means a state agency on whose behalf the board may issue obligations. (b) The authority shall develop an orientation...
• Texas Section 1232.114 - Project Analysis
  (a) When the authority submits its application for approval of a bond issue to the Bond Review Board, the agency or institution that will use...
• Texas Section 1232.115 - Expenses Included In Principal Amount
  (a) The principal amount of obligations may include amounts required to pay required reserve funds, capitalized interest, the authority's administrative costs, issuing expenses, and other...
• Texas Section 1232.116 - Manner Of Repayment
  (a) The board may provide for the payment of the principal of and interest on obligations issued under this chapter: (1) by pledging all or...
• Texas Section 1232.117 - State Debt Not Created
  (a) An obligation issued under this chapter is not a debt of the state or any state agency, political corporation, or political subdivision of the...
• Texas Section 1232.118 - Order Or Resolution Authorizing Issuance Of Obligations
  (a) An order or resolution of the board authorizing the issuance of obligations, including refunding obligations, may provide for the flow of funds and the...
• Texas Section 1232.119 - Adoption And Execution Of Instruments
  The board may adopt and have executed any other proceeding or instrument necessary and convenient in the issuance of obligations. Added by Acts 1999, 76th...
• Texas Section 1232.1191 - Delegation Of Authority
  (a) The board may delegate authority to negotiate contracts required for issuance of obligations to one or more of its employees or members. (b) The...
• Texas Section 1232.120 - Exemption From Taxation
  An obligation issued by the board, any transaction relating to the obligation, and profits made from the sale of the obligation are exempt from taxation...
• Texas Section 1232.121 - Certification And Deposit Of Proceeds Of Obligations
  (a) After issuing obligations, the board shall certify to the commission or the appropriate state agency and to the comptroller that the proceeds from the...
• Texas Section 1232.122 - Commencement Of Construction, Purchase, Or Lease
  The acquisition or construction of a building or the purchase or lease of equipment may begin after: (1) the authority has certified that obligations in...
• Texas Section 1232.1221 - Commencement Of Certain Multiyear Cancer-related Projects
  (a) Funds may be distributed to a grant recipient for a multiyear project for which an award is granted by the Cancer Prevention and Research...
• Texas Section 1232.123 - Investment Of Bond Proceeds
  (a) With the board's concurrence, the comptroller shall invest the unexpended bond proceeds and investment income on bond proceeds in investments approved by law for...

SUBCHAPTER D LEASE AND CONVEYANCE OF PROPERTY BY AUTHORITY

• Texas Section 1232.124 - Preference For Texas Businesses
  If the authority contracts with a private entity to issue bonds under this chapter, the authority shall consider contracting with: (1) an entity that has...
• Texas Section 1232.201 - Rent And Fees
  (a) The commission or the appropriate state agency shall establish schedules necessary to properly charge occupying state agencies for the expenses incurred in financing the...
• Texas Section 1232.202 - Contracts Contingent On Legislative Appropriations
  (a) Each lease or installment sale contract entered into under this chapter is contingent on the legislature's appropriation of sufficient funds. (b) The board may...
• Texas Section 1232.203 - Lease Of Space For Child Care Facility
  (a) The commission, when acting under Chapter 663, is not an occupying state agency for purposes of Section 1232.201. (b) The commission or the appropriate...
• Texas Section 1232.204 - Leasing Preference
  A building owned by the authority is considered state-owned space for the purposes of: (1) Section 2165.107; and (2) child-care facility sites located in state-owned...
• Texas Section 1232.205 - Lease Of Space To Outside Entities
  The board may lease all or part of a building, the acquisition or construction of which was financed under this chapter, to any person if...
• Texas Section 1232.206 - Property Conveyance
  (a) When the principal of and interest on obligations relating to equipment or a building financed under this chapter are fully paid and the equipment...

Last modified: September 28, 2016