Sec. 45.251. DEFINITIONS. In this subchapter:
(1) "Board" means the State Board of Education.
(2) "Foundation School Program" means the program established under Chapters 46, 48, and 49, or any successor program of state appropriated funding for school districts in this state.
(3) "Paying agent" means the financial institution that is designated by a school district as the district's agent for the payment of the principal of and interest on bonds for which credit enhancement is provided under this subchapter.
Added by Acts 2009, 81st Leg., R.S., Ch. 1328 (H.B. 3646), Sec. 75, eff. September 1, 2009.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 943 (H.B. 3), Sec. 3.054, eff. September 1, 2019.
Structure Texas Statutes
Subtitle I - School Finance and Fiscal Management
Chapter 45 - School District Funds
Subchapter I. Intercept Program to Provide Credit Enhancement for Bonds
Section 45.252. Intercept Credit Enhancement Program
Section 45.253. Limitation on Intercept Credit Enhancement
Section 45.2541. Intercept of Foundation School Program Appropriations as Credit Enhancement
Section 45.255. Application for Credit Enhancement
Section 45.257. Credit Enhancement Endorsement
Section 45.258. Notice of Failure or Inability to Pay
Section 45.259. Payment From Intercepted Funds
Section 45.260. Bonds Not Accelerated on Failure to Pay
Section 45.261. Reimbursement of Foundation School Program