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Statutes > Texas > Government-code > Title-9-public-securities > Chapter-1403-general-obligation-bonds-for-certain-border-colonia-projects

GOVERNMENT CODE

TITLE 9. PUBLIC SECURITIES

SUBTITLE G. SPECIFIC AUTHORITY FOR STATE GOVERNMENT TO ISSUE

SECURITIES

CHAPTER 1403. GENERAL OBLIGATION BONDS FOR CERTAIN BORDER COLONIA

PROJECTS

Sec. 1403.001. DEFINITIONS. In this chapter:

(1) "Authority" means the Texas Public Finance Authority.

(2) "Commission" means the Texas Transportation Commission.

Added by Acts 2001, 77th Leg., ch. 950, Sec. 1, eff. Nov. 6,

2001.

Sec. 1403.002. GENERAL OBLIGATION BONDS AND NOTES FOR BORDER

COLONIA ROADWAY PROJECTS. (a) As provided by Section 49-1,

Article III, Texas Constitution, the authority shall, in

accordance with requests from the office of the governor:

(1) issue general obligation bonds and notes in an aggregate

amount not to exceed $175 million, as authorized by the office of

the governor under Subsection (b); and

(2) as directed by the Texas Department of Transportation,

distribute the proceeds from the sale of the bonds and notes to

counties to provide financial assistance for colonia access

roadway projects to serve border colonias.

(b) The office of the governor shall determine the amount of

bonds or notes to be issued at any one time by the authority

under Subsection (a)(1) and the times at which the bonds or notes

are issued.

(c) The commission shall establish a program to administer the

use of the proceeds of the bonds and notes. The Texas Department

of Transportation shall administer the program in cooperation

with the office of the governor, the secretary of state, and the

Texas A&M University Center for Housing and Urban

Development.

(d) The commission, in cooperation with the office of the

governor, shall:

(1) define by rule "border colonia" as a geographic area that

consists of 11 or more dwellings that are located in close

proximity to each other in an area that may be described as a

community or neighborhood and subject to any other criteria

considered appropriate by the commission and the office of the

governor;

(2) establish by rule criteria for selecting which areas and

which colonia access roadway projects are eligible for assistance

under this chapter;

(3) determine the counties and the colonia access roadway

projects that are to receive financial assistance and the amount

of assistance given to a county or project;

(4) establish by rule minimum road standards a county's colonia

access roadway proposal must meet to be awarded a grant;

(5) establish by rule grant application procedures; and

(6) establish by rule financial reporting requirements for

counties that receive assistance for colonia access roadway

projects to serve border colonias.

(e) The issuance of general obligation bonds under this chapter

shall comply with and is subject to Subtitle A, of this title,

Chapter 1231, and applicable provisions of Chapters 1232 and

1371.

(f) In connection with bonds or notes issued under this section,

the authority may enter into one or more credit agreements at any

time for a period and on conditions the authority approves. For

purposes of this subsection, "credit agreement" includes:

(1) an interest rate swap agreement;

(2) an interest rate lock agreement;

(3) a currency swap agreement;

(4) a forward payment conversion agreement;

(5) an agreement to provide payments based on levels of or

changes in interest rates or currency exchange rates;

(6) an agreement to exchange cash flows or a series of payments;

(7) an option, put, or call to hedge payment, currency, rate,

spread, or other exposure; or

(8) another agreement that enhances the marketability, security,

or creditworthiness of bonds or notes.

Added by Acts 2001, 77th Leg., ch. 950, Sec. 1, eff. Nov. 6,

2001.

Amended by:

Acts 2007, 80th Leg., R.S., Ch.

341, Sec. 7, eff. June 15, 2007.

Sec. 1403.003. SET-ASIDE FOR COLONIAS LOCATED IN RURAL BORDER

COUNTIES. (a) In this section:

(1) "Border colonia" means a border colonia as defined by

commission rule under Section 1403.002.

(2) "Rural border county" means a county that:

(A) has a population of less than 55,000; and

(B) is adjacent to an international border.

(3) "Set-aside" means a reservation of a portion of the proceeds

from the sale of general obligation bonds and notes under this

chapter to provide financial assistance for specific colonia

access roadway projects proposed by rural border counties.

(b) The authority shall set aside an amount equal to 10 percent

of the proceeds from each sale of general obligation bonds and

notes under this chapter to provide financial assistance for

colonia access roadway projects designed to pave roads serving

border colonias located in rural border counties.

(c) The authority, as directed by the Texas Department of

Transportation, shall provide a grant from the set-aside on a

priority basis to a rural border county that proposes to pave for

the first time a road serving a border colonia located in that

county.

Added by Acts 2003, 78th Leg., ch. 320, Sec. 1, eff. June 18,

2003.

Sec. 1403.004. USE OF GRANTS FOR PROJECT MATERIALS OR EQUIPMENT.

A grant under this chapter may be used to purchase any materials

or to lease any equipment as reasonably necessary to accomplish

the goal of the project. Materials purchased as permitted by this

section must be used solely in connection with the project.

Equipment leased as permitted by this section must be used

substantially in connection with the project throughout the

period of the applicable lease.

Added by Acts 2003, 78th Leg., ch. 320, Sec. 1, eff. June 18,

2003.

State Codes and Statutes

Statutes > Texas > Government-code > Title-9-public-securities > Chapter-1403-general-obligation-bonds-for-certain-border-colonia-projects

GOVERNMENT CODE

TITLE 9. PUBLIC SECURITIES

SUBTITLE G. SPECIFIC AUTHORITY FOR STATE GOVERNMENT TO ISSUE

SECURITIES

CHAPTER 1403. GENERAL OBLIGATION BONDS FOR CERTAIN BORDER COLONIA

PROJECTS

Sec. 1403.001. DEFINITIONS. In this chapter:

(1) "Authority" means the Texas Public Finance Authority.

(2) "Commission" means the Texas Transportation Commission.

Added by Acts 2001, 77th Leg., ch. 950, Sec. 1, eff. Nov. 6,

2001.

Sec. 1403.002. GENERAL OBLIGATION BONDS AND NOTES FOR BORDER

COLONIA ROADWAY PROJECTS. (a) As provided by Section 49-1,

Article III, Texas Constitution, the authority shall, in

accordance with requests from the office of the governor:

(1) issue general obligation bonds and notes in an aggregate

amount not to exceed $175 million, as authorized by the office of

the governor under Subsection (b); and

(2) as directed by the Texas Department of Transportation,

distribute the proceeds from the sale of the bonds and notes to

counties to provide financial assistance for colonia access

roadway projects to serve border colonias.

(b) The office of the governor shall determine the amount of

bonds or notes to be issued at any one time by the authority

under Subsection (a)(1) and the times at which the bonds or notes

are issued.

(c) The commission shall establish a program to administer the

use of the proceeds of the bonds and notes. The Texas Department

of Transportation shall administer the program in cooperation

with the office of the governor, the secretary of state, and the

Texas A&M University Center for Housing and Urban

Development.

(d) The commission, in cooperation with the office of the

governor, shall:

(1) define by rule "border colonia" as a geographic area that

consists of 11 or more dwellings that are located in close

proximity to each other in an area that may be described as a

community or neighborhood and subject to any other criteria

considered appropriate by the commission and the office of the

governor;

(2) establish by rule criteria for selecting which areas and

which colonia access roadway projects are eligible for assistance

under this chapter;

(3) determine the counties and the colonia access roadway

projects that are to receive financial assistance and the amount

of assistance given to a county or project;

(4) establish by rule minimum road standards a county's colonia

access roadway proposal must meet to be awarded a grant;

(5) establish by rule grant application procedures; and

(6) establish by rule financial reporting requirements for

counties that receive assistance for colonia access roadway

projects to serve border colonias.

(e) The issuance of general obligation bonds under this chapter

shall comply with and is subject to Subtitle A, of this title,

Chapter 1231, and applicable provisions of Chapters 1232 and

1371.

(f) In connection with bonds or notes issued under this section,

the authority may enter into one or more credit agreements at any

time for a period and on conditions the authority approves. For

purposes of this subsection, "credit agreement" includes:

(1) an interest rate swap agreement;

(2) an interest rate lock agreement;

(3) a currency swap agreement;

(4) a forward payment conversion agreement;

(5) an agreement to provide payments based on levels of or

changes in interest rates or currency exchange rates;

(6) an agreement to exchange cash flows or a series of payments;

(7) an option, put, or call to hedge payment, currency, rate,

spread, or other exposure; or

(8) another agreement that enhances the marketability, security,

or creditworthiness of bonds or notes.

Added by Acts 2001, 77th Leg., ch. 950, Sec. 1, eff. Nov. 6,

2001.

Amended by:

Acts 2007, 80th Leg., R.S., Ch.

341, Sec. 7, eff. June 15, 2007.

Sec. 1403.003. SET-ASIDE FOR COLONIAS LOCATED IN RURAL BORDER

COUNTIES. (a) In this section:

(1) "Border colonia" means a border colonia as defined by

commission rule under Section 1403.002.

(2) "Rural border county" means a county that:

(A) has a population of less than 55,000; and

(B) is adjacent to an international border.

(3) "Set-aside" means a reservation of a portion of the proceeds

from the sale of general obligation bonds and notes under this

chapter to provide financial assistance for specific colonia

access roadway projects proposed by rural border counties.

(b) The authority shall set aside an amount equal to 10 percent

of the proceeds from each sale of general obligation bonds and

notes under this chapter to provide financial assistance for

colonia access roadway projects designed to pave roads serving

border colonias located in rural border counties.

(c) The authority, as directed by the Texas Department of

Transportation, shall provide a grant from the set-aside on a

priority basis to a rural border county that proposes to pave for

the first time a road serving a border colonia located in that

county.

Added by Acts 2003, 78th Leg., ch. 320, Sec. 1, eff. June 18,

2003.

Sec. 1403.004. USE OF GRANTS FOR PROJECT MATERIALS OR EQUIPMENT.

A grant under this chapter may be used to purchase any materials

or to lease any equipment as reasonably necessary to accomplish

the goal of the project. Materials purchased as permitted by this

section must be used solely in connection with the project.

Equipment leased as permitted by this section must be used

substantially in connection with the project throughout the

period of the applicable lease.

Added by Acts 2003, 78th Leg., ch. 320, Sec. 1, eff. June 18,

2003.


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State Codes and Statutes

Statutes > Texas > Government-code > Title-9-public-securities > Chapter-1403-general-obligation-bonds-for-certain-border-colonia-projects

GOVERNMENT CODE

TITLE 9. PUBLIC SECURITIES

SUBTITLE G. SPECIFIC AUTHORITY FOR STATE GOVERNMENT TO ISSUE

SECURITIES

CHAPTER 1403. GENERAL OBLIGATION BONDS FOR CERTAIN BORDER COLONIA

PROJECTS

Sec. 1403.001. DEFINITIONS. In this chapter:

(1) "Authority" means the Texas Public Finance Authority.

(2) "Commission" means the Texas Transportation Commission.

Added by Acts 2001, 77th Leg., ch. 950, Sec. 1, eff. Nov. 6,

2001.

Sec. 1403.002. GENERAL OBLIGATION BONDS AND NOTES FOR BORDER

COLONIA ROADWAY PROJECTS. (a) As provided by Section 49-1,

Article III, Texas Constitution, the authority shall, in

accordance with requests from the office of the governor:

(1) issue general obligation bonds and notes in an aggregate

amount not to exceed $175 million, as authorized by the office of

the governor under Subsection (b); and

(2) as directed by the Texas Department of Transportation,

distribute the proceeds from the sale of the bonds and notes to

counties to provide financial assistance for colonia access

roadway projects to serve border colonias.

(b) The office of the governor shall determine the amount of

bonds or notes to be issued at any one time by the authority

under Subsection (a)(1) and the times at which the bonds or notes

are issued.

(c) The commission shall establish a program to administer the

use of the proceeds of the bonds and notes. The Texas Department

of Transportation shall administer the program in cooperation

with the office of the governor, the secretary of state, and the

Texas A&M University Center for Housing and Urban

Development.

(d) The commission, in cooperation with the office of the

governor, shall:

(1) define by rule "border colonia" as a geographic area that

consists of 11 or more dwellings that are located in close

proximity to each other in an area that may be described as a

community or neighborhood and subject to any other criteria

considered appropriate by the commission and the office of the

governor;

(2) establish by rule criteria for selecting which areas and

which colonia access roadway projects are eligible for assistance

under this chapter;

(3) determine the counties and the colonia access roadway

projects that are to receive financial assistance and the amount

of assistance given to a county or project;

(4) establish by rule minimum road standards a county's colonia

access roadway proposal must meet to be awarded a grant;

(5) establish by rule grant application procedures; and

(6) establish by rule financial reporting requirements for

counties that receive assistance for colonia access roadway

projects to serve border colonias.

(e) The issuance of general obligation bonds under this chapter

shall comply with and is subject to Subtitle A, of this title,

Chapter 1231, and applicable provisions of Chapters 1232 and

1371.

(f) In connection with bonds or notes issued under this section,

the authority may enter into one or more credit agreements at any

time for a period and on conditions the authority approves. For

purposes of this subsection, "credit agreement" includes:

(1) an interest rate swap agreement;

(2) an interest rate lock agreement;

(3) a currency swap agreement;

(4) a forward payment conversion agreement;

(5) an agreement to provide payments based on levels of or

changes in interest rates or currency exchange rates;

(6) an agreement to exchange cash flows or a series of payments;

(7) an option, put, or call to hedge payment, currency, rate,

spread, or other exposure; or

(8) another agreement that enhances the marketability, security,

or creditworthiness of bonds or notes.

Added by Acts 2001, 77th Leg., ch. 950, Sec. 1, eff. Nov. 6,

2001.

Amended by:

Acts 2007, 80th Leg., R.S., Ch.

341, Sec. 7, eff. June 15, 2007.

Sec. 1403.003. SET-ASIDE FOR COLONIAS LOCATED IN RURAL BORDER

COUNTIES. (a) In this section:

(1) "Border colonia" means a border colonia as defined by

commission rule under Section 1403.002.

(2) "Rural border county" means a county that:

(A) has a population of less than 55,000; and

(B) is adjacent to an international border.

(3) "Set-aside" means a reservation of a portion of the proceeds

from the sale of general obligation bonds and notes under this

chapter to provide financial assistance for specific colonia

access roadway projects proposed by rural border counties.

(b) The authority shall set aside an amount equal to 10 percent

of the proceeds from each sale of general obligation bonds and

notes under this chapter to provide financial assistance for

colonia access roadway projects designed to pave roads serving

border colonias located in rural border counties.

(c) The authority, as directed by the Texas Department of

Transportation, shall provide a grant from the set-aside on a

priority basis to a rural border county that proposes to pave for

the first time a road serving a border colonia located in that

county.

Added by Acts 2003, 78th Leg., ch. 320, Sec. 1, eff. June 18,

2003.

Sec. 1403.004. USE OF GRANTS FOR PROJECT MATERIALS OR EQUIPMENT.

A grant under this chapter may be used to purchase any materials

or to lease any equipment as reasonably necessary to accomplish

the goal of the project. Materials purchased as permitted by this

section must be used solely in connection with the project.

Equipment leased as permitted by this section must be used

substantially in connection with the project throughout the

period of the applicable lease.

Added by Acts 2003, 78th Leg., ch. 320, Sec. 1, eff. June 18,

2003.


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