Sec. 46.005. LIMITATION ON GUARANTEED AMOUNT. The guaranteed amount of state and local funds for a new project that a district may be awarded in any state fiscal biennium under Section 46.003 for a school district may not exceed the lesser of:
(1) the amount the actual debt service payments the district makes in the biennium in which the bonds are issued; or
(2) the greater of:
(A) $100,000; or
(B) the product of the number of students in average daily attendance in the district multiplied by $250.
Added by Acts 1997, 75th Leg., ch. 592, Sec. 1.04, eff. Sept. 1, 1997.
Structure Texas Statutes
Subtitle I - School Finance and Fiscal Management
Chapter 46 - Assistance With Instructional Facilities and Payment of Existing Debt
Subchapter A. Instructional Facilities Allotment
Section 46.003. School Facilities Allotment
Section 46.004. Lease-Purchase Agreements
Section 46.005. Limitation on Guaranteed Amount
Section 46.006. Shortage or Excess of Funds Appropriated for New Projects
Section 46.007. Refunding Bonds
Section 46.0081. Security Criteria in Design of Instructional Facilities
Section 46.009. Payment of School Facilities Allotments
Section 46.010. Projects by More Than One District
Section 46.011. Sale of Instructional Facility Financed With Instructional Facilities Allotment
Section 46.012. Applicability to Open-Enrollment Charter Schools