Sec. 15.211. INSURANCE FEES. (a) The board shall adopt a schedule of fees to be charged an issuer for insurance coverage provided under this subchapter.
(b) Fees charged by the board under this section shall be calculated to provide a reasonable reserve against defaults and impending defaults.
(c) Fees collected under this section shall be deposited in a special reserve fund created in the state treasury for the purpose of paying amounts on default or impending default of any bonds without resorting to the general credit of the state. The board may invest any money credited to the reserve fund in investments authorized by law for state deposits.
Added by Acts 1985, 69th Leg., ch. 133, Sec. 2.05. Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 8, eff. Sept. 1, 1987; Acts 1989, 71st Leg., ch. 308, Sec. 1, eff. June 14, 1989.
Structure Texas Statutes
Title 2 - Water Administration
Subtitle C - Water Development
Chapter 15 - Texas Water Assistance Program
Subchapter D. Water Bond Insurance Program
Section 15.202. Creation and Administration of Program
Section 15.203. Eligible Bonds
Section 15.206. Application for Insurance
Section 15.207. Considerations in Passing on Application
Section 15.208. Approval of Application
Section 15.209. Contracts, Agreements, and Other Documents
Section 15.210. Limitation on Insurance Coverage
Section 15.211. Insurance Fees
Section 15.212. Payment by State
Section 15.213. Refunding Bonds
Section 15.214. Inspection of Projects
Section 15.215. Alteration of Plans
Section 15.216. Certificate of Approval