Sec. 1431.014. CERTAIN NOTES FOR RURAL ECONOMIC DEVELOPMENT. (a) Notwithstanding any other provision of this chapter, an issuer participating in a rural economic development program established by the Texas Agricultural Finance Authority may sell to the authority an anticipation note issued for a purpose described by Section 1431.004(a)(1), provided that the note matures before the 30th anniversary of the date the note is issued.
(b) Anticipation notes issued by a single issuer under this section in an aggregate original principal amount of not more than $500,000 are not subject to the approval requirements of Section 1431.011 or Chapter 1202.
(c) An issuer may issue anticipation notes under this section for the same purpose not more than once in any 12-month period.
Added by Acts 2001, 77th Leg., ch. 152, Sec. 1, eff. May 16, 2001.
Structure Texas Statutes
Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities
Chapter 1431 - Anticipation Notes
Section 1431.002. Authority to Issue Anticipation Notes
Section 1431.003. Additional Authority of Counties and Certain Municipalities
Section 1431.004. Uses of Anticipation Note Proceeds
Section 1431.005. General Limitation
Section 1431.006. Limitation on Notes to Pay Expenses
Section 1431.007. General Sources of Payment
Section 1431.008. Ad Valorem Taxes as Source of Payment
Section 1431.010. Sale of Notes
Section 1431.011. Attorney General Approval of Certain Notes
Section 1431.012. Restriction on Certain Contracts Payable From Proceeds of Notes
Section 1431.013. Conflict With Other Laws
Section 1431.014. Certain Notes for Rural Economic Development
Section 1431.015. Certain Notes or Other Obligations for Emergency Financing