Texas Government Code Title 9, Chapter 1433 - Bonds For Development Of Employment, Industrial, And Health Resources
SUBCHAPTER A GENERAL PROVISIONS
- Texas Section 1433.001 - Short Title
This chapter may be cited as the Act for Development of Employment, Industrial, and Health Resources. Added by Acts 1999, 76th Leg., ch. 227, Sec....
- Texas Section 1433.002 - Definitions
In this chapter: (1) "Department" means the Texas Department of Economic Development. (2) "District" means a conservation and reclamation district established under Section 59, Article...
- Texas Section 1433.003 - Applicability Of Chapter To Municipalities
This chapter applies to a municipality only if the municipality: (1) has the power to impose an ad valorem tax of not less than $1.50...
- Texas Section 1433.004 - Cost Of Project
For purposes of this chapter, the cost of an industrial project or medical project is: (1) the cost of acquisitions for the project, including the...
- Texas Section 1433.005 - Ultimate Lessee
For purposes of this chapter, an ultimate lessee is the person, firm, corporation, or company that leases an industrial project or medical project from the...
- Texas Section 1433.006 - Correction Of Invalid Procedures
If a court holds that any procedure under this chapter violates the constitution of this state or the United States, the issuer by resolution may...
- Texas Section 1433.007 - Relocation Or Alteration Expense
If a municipality, county, district, or other political subdivision, in the exercise of a power under this chapter, including the power of relocation, makes necessary...
SUBCHAPTER B POWERS OF ISSUER
- Texas Section 1433.008 - Use Of State Money
(a) The legislature may not appropriate money to pay all or a part of the obligation of an issuer under this chapter. (b) The department...
- Texas Section 1433.021 - Acquisition Of Project; Disposition
(a) An issuer may acquire, by construction, purchase, devise, gift, or lease or by more than one of those methods, an industrial project or medical...
- Texas Section 1433.022 - Limitations On Acquisitions
(a) An issuer may not acquire an industrial project, or any part of an industrial project, by eminent domain. (b) Land previously acquired by an...
- Texas Section 1433.023 - Authority To Issue Revenue Bonds
(a) Except as provided by Subsection (b), an issuer may issue revenue bonds to pay all or a part of the cost of acquiring, constructing,...
- Texas Section 1433.024 - Lease Of Project
(a) An issuer may, in accordance with this chapter, lease any or all of the issuer's industrial projects and medical projects. (b) An issuer may...
- Texas Section 1433.025 - Advertising For Certain Contracts; Performance And Payment Bonds
(a) A contract for construction or purchase under this chapter involving the expenditure of more than $2,000 may be made only after advertising in the...
SUBCHAPTER C PROCEDURE FOR ISSUING BONDS
- Texas Section 1433.026 - Prohibited Operations
An issuer may not operate an industrial project as a business or in any manner other than as the lessor of the project. Added by...
- Texas Section 1433.041 - Department Approval Of Lease; Appeal
(a) An issuer may not begin proceedings to authorize bonds under Section 1433.044 or 1433.061 until the department has given tentative approval to the suggested...
- Texas Section 1433.042 - Regulation Of Leases
The department by rule shall adopt minimum standards for lease agreements and guidelines relating to financial responsibilities of the lessee and any ultimate lessee. Added...
- Texas Section 1433.043 - Issuer's Authority
(a) An issuer may issue bonds under this chapter without obtaining the consent of any department, division, commission, board, bureau, or agency of the state,...
- Texas Section 1433.044 - Bond Resolution; Calling Election; Publication Of Resolution
(a) Before issuing bonds under this chapter, a governing body shall adopt a resolution declaring its intention to issue the bonds. (b) The resolution must...
- Texas Section 1433.045 - Protest
(a) If at least 10 percent of the registered voters of the issuer file a written protest against the issuance of the bonds on or...
- Texas Section 1433.046 - Election Order
In addition to the requirements provided by Chapter 3, Election Code, an order calling an election under this subchapter must include the location of each...
- Texas Section 1433.047 - Notice Of Election
Notice of an election under this subchapter shall be published once a week for at least two consecutive weeks, in at least one newspaper of...
- Texas Section 1433.048 - Ballot Proposition; Election Procedures
(a) The ballot for an election held under this subchapter shall be printed to permit voting for or against the proposition: "The issuance of revenue...
SUBCHAPTER D BONDS
- Texas Section 1433.049 - Results Of Election
(a) Within 10 days after the election, or as soon after that as possible, the governing body of the issuer shall convene and canvass the...
- Texas Section 1433.061 - Issuance Of Bonds
(a) A series of bonds may be issued for each industrial project or medical project. Any projects may be combined in a single series of...
- Texas Section 1433.062 - Money Used To Pay Bonds; Prohibition On Certain Obligations
(a) The principal of and the interest on bonds authorized under this chapter are payable only from the money provided for that payment and from...
- Texas Section 1433.063 - Bonds Not Debt Of State Or Issuer
(a) A bond issued under this chapter is not a debt or a pledge of the faith and credit of this state, the issuer, or...
- Texas Section 1433.064 - Maturity
A bond issued under this chapter must mature not later than 40 years after its date. Added by Acts 1999, 76th Leg., ch. 227, Sec....
- Texas Section 1433.065 - Sale Of Bonds
Bonds issued under this chapter shall be sold to the highest bidder for cash and may not be exchanged for property. Added by Acts 1999,...
- Texas Section 1433.066 - Interim Receipts; Temporary Bonds
Before the preparation of definitive bonds, an issuer may, under the restrictions applicable to the definitive bonds, issue interim receipts or temporary bonds, with or...
- Texas Section 1433.067 - Use Of Bond Proceeds
The proceeds of the bonds of each issue may be used only for the payment of the cost of the industrial project or medical project...
- Texas Section 1433.068 - Refunding Bonds
(a) An issuer by resolution may provide for the issuance of revenue refunding bonds to: (1) refund any outstanding bonds issued under this chapter; and...
SUBCHAPTER E AGREEMENTS RELATING TO BONDS
- Texas Section 1433.069 - Exemptions From Taxation And Securities Act
(a) A bond issued under this chapter and the issuance and transfer of the bond, including any profit made in the sale of the bond,...
- Texas Section 1433.101 - Security For Bond; Trust Agreement
(a) A bond issued under this chapter may be secured by a trust agreement between the issuer and a trust company or a bank having...
- Texas Section 1433.102 - Default In Lease Agreement Or Mortgage; Enforcement
(a) An agreement relating to an industrial project or medical project between the issuer and the lessee or between a lessee and ultimate lessee must...
- Texas Section 1433.103 - Purchase Option
(a) An issuer may grant a lessee or ultimate lessee an option to purchase all or a part of an industrial project or medical project...
Last modified: September 28, 2016