Sec. 45.255. APPLICATION FOR CREDIT ENHANCEMENT. (a) A school district seeking credit enhancement of eligible bonds under this subchapter shall apply to the commissioner using a form adopted by the commissioner for the purpose. The commissioner may adopt a single form on which a district seeking guarantee or credit enhancement of eligible bonds may apply simultaneously first for a guarantee under Subchapter C and then, if that guarantee is rejected, for credit enhancement under this subchapter.
(b) An application under Subsection (a) must:
(1) include the information required by Section 45.055(b); and
(2) be accompanied by a fee set by board rule in an amount designed to cover the costs of administering the programs to provide the guarantee or credit enhancement of eligible bonds.
Added by Acts 2009, 81st Leg., R.S., Ch. 1328 (H.B. 3646), Sec. 75, eff. September 1, 2009.
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