Sec. 45.058. NOTICE OF DEFAULT. Immediately following a determination that a school district or charter district will be or is unable to pay maturing or matured principal or interest on a guaranteed bond, but not later than the fifth day before maturity date, the school district or charter district shall notify the commissioner.
Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995.
Amended by:
Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 59.11, eff. September 28, 2011.
Structure Texas Statutes
Subtitle I - School Finance and Fiscal Management
Chapter 45 - School District Funds
Subchapter C. Guaranteed Bonds
Section 45.053. Limitation; Value Estimates
Section 45.0531. Additional Limitation: Reservation of Percentage of Permanent School Fund Value
Section 45.0532. Limitation on Guarantee of Charter District Bonds
Section 45.0533. Communication With Nationally Recognized Investment Rating Firm
Section 45.054. Eligibility of School District Bonds
Section 45.0541. Eligibility of Charter District Bonds
Section 45.055. Application for Guarantee
Section 45.057. Guarantee Endorsement
Section 45.0571. Charter District Bond Guarantee Reserve Fund
Section 45.058. Notice of Default
Section 45.059. Payment of School District Bond on Default
Section 45.0591. Payment of Charter District Bond on Default
Section 45.060. Bonds Not Accelerated on Default
Section 45.061. Reimbursement of Funds