Sec. 1372.041. REFUSAL TO ACCEPT RESERVATION BY ISSUER. (a) An issuer may:
(1) refuse to accept a reservation if the amount of state ceiling available is less than the amount for which the issuer applied; or
(2) refuse to accept a reservation for any amount if the reservation is granted after September 23.
(b) The amount of available state ceiling is subject to the grant of a reservation to each succeeding issuer eligible to be granted a reservation of that available state ceiling in the order of priority under this subchapter.
(c) An issuer's refusal to accept a reservation does not affect the issuer's order of priority for a subsequent grant of a reservation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle F - Specific Authority for State or Local Government to Issue Securities
Chapter 1372 - Private Activity Bonds and Certain Other Bonds
Subchapter B. Allocation and Reservation of State Ceiling
Section 1372.021. Annual Allocation of State Ceiling
Section 1372.022. Availability of State Ceiling to Issuers
Section 1372.024. Increase in Amount of State Ceiling Available to Issuers of State-Voted Issues
Section 1372.026. Limitation on Amount of State Ceiling Available to Housing Finance Corporations
Section 1372.0261. Failure of Housing Finance Corporation to Use Amount of State Ceiling Allocated
Section 1372.027. Publication of Available State Ceiling
Section 1372.028. Application for Reservation; Form and Content
Section 1372.0281. Information Required of Issuers of Certain Qualified Student Loan Bonds
Section 1372.029. Applications for Multiple Projects at Same Site Prohibited
Section 1372.030. Granting of Certain Reservations Prohibited; Exceptions
Section 1372.031. Priorities for Reservations Among Certain Issuers
Section 1372.032. Priorities for Reservations Among Issuers of Qualified Mortgage Bonds
Section 1372.033. Priorities for Reservations Among Certain Issuers of Qualified Student Loan Bonds
Section 1372.034. Order of Acceptance of Certain Applications for Reservation
Section 1372.035. Granting of Reservations; Order
Section 1372.036. Reservations From Portion of State Ceiling Subsequently Becoming Available
Section 1372.037. Limitations on Granting of Reservations for Individual Projects
Section 1372.038. Reservation Date
Section 1372.039. Certification Required of Issuer; Cancellation on Failure
Section 1372.041. Refusal to Accept Reservation by Issuer
Section 1372.042. Deadline for Closing on Bonds by Issuer
Section 1372.043. Cancellation of Reservation on Issuer's Failure to Timely Close on Bonds