Sec. 45.256. INVESTIGATION. (a) Following receipt of an application under Section 45.255, the commissioner shall conduct an investigation of the applicant school district as provided for an investigation under Section 45.056(a).
(b) If following the investigation under Subsection (a) the commissioner is satisfied that the school district's bonds should be guaranteed under Subchapter C or provided credit enhancement under this subchapter, as applicable, the commissioner shall endorse the 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