1 Texas Administrative Code § 53.12 – Refunding Bonds (a) Definitions. For purposes of this section, the term “bonds” includes commercial paper used for refunding purposes, and the term “public securities” includes other obligations authorized to be refunded by law that do not constitute public securities under § RSA 1202.001 of the Government Code. (b)…

1 Texas Administrative Code § 53.11 – Seals Seals should be the official seal as adopted by the governing body. Seals on certificates must exactly correspond to seals on securities.

1 Texas Administrative Code § 53.10 – Estimates in Statements of Taxable Values Except where otherwise permitted by law, estimates in statements of taxable values are not permissible unless the issuer has been in operation for a period of less than 18 calendar months.

1 Texas Administrative Code § 53.9 – Securities in Litigation Pending litigation will generally disqualify proposed public securities from approval when the pending litigation concerns the public securities, the majority of the titles to office, the issuer’s creation, the boundaries of a traditional governmental issuer if a final judgment may reduce the tax base or…

1 Texas Administrative Code § 53.8 – Appropriated Funds and Capitalized Interest When an issuer must pay debt service on a proposed ad valorem tax public security or combination ad valorem tax and revenue public security before the initial tax levy can be collected, the issuer must provide certification that the issuer has appropriated lawfully…

1 Texas Administrative Code § 53.7 – Transcripts of Combination Tax and Revenue Public Securities Generally, transcripts for proposed public securities supported by a combination of ad valorem taxes and other revenues shall meet the transcript requirements for both ad valorem tax public securities and revenue public securities as provided by this chapter.

1 Texas Administrative Code § 53.6 – Satisfaction of Coverage The maximum annual debt service reflected in the debt retirement schedule may not exceed: (1) for proposed public securities supported in whole or in part by ad valorem taxes, the product of the bond allowable rate, the applicable collection rate, and the issuer’s most recent…

1 Texas Administrative Code § 53.5 – Determination of Bond Allowable Rate The following apply to determinations of the ad valorem tax bond allowable rate: (1) “bond allowable rate” means the portion of the maximum authorized tax rate available for debt service; (2) except as provided below, and except for good cause shown, all political…

1 Texas Administrative Code § 53.4 – Financial Publications The following financial publications circulated within the State of Texas are approved for publication of notices of public security sales: (1) The Texas Bond Reporter; (2) The Bond Buyer; and (3) The Wall Street Journal.

1 Texas Administrative Code § 53.3 – Content of Transcripts (a) Transcript Requirements. Each transcript shall include the following, as applicable:(1) Initial Public Securities. The initial public securities executed in accordance with applicable law; (2) Authorizing Document. The authorizing ordinance, order or resolution and, as applicable, indenture of trust for the proposed public securities, including…