Title GV, Government Code

Sec. 1231.023. DEBT ISSUANCE POLICIES AND GUIDELINES. (a) The board shall adopt debt issuance policies to guide issuers of state securities and to ensure that state debt is prudently managed. The policies must be sufficiently flexible to allow the state and issuers of state secur…

Sec. 1231.024. SEARCHABLE DATABASE FOR LOCAL BOND OBLIGATIONS. (a) The board shall develop and maintain on the board's Internet website a publicly accessible and searchable database that provides, in a table format that is easy to read and understand, information on each bond pro…

Sec. 1231.025. LOCAL BOND ELECTION INFORMATION. (a) Not later than the 20th day before election day for an election to authorize a local government to issue bonds, the local government shall submit a report to the board that includes: (1) the date of the election; (2) the proposi…

Sec. 1231.026. ANNUAL LOCAL UNISSUED SECURITIES REPORT. (a) Not later than September 30 of each year, a local government with voter-approved but unissued bonds shall submit a report to the board regarding the amount of voter-approved but unissued bonds authorized by the local gov…

Sec. 1231.041. APPROVAL OF STATE SECURITY. (a) Except as otherwise provided by this section, an entity, including a state agency, may not issue a state security unless: (1) the board approves the issuance; or (2) the security is exempted under law, including a board rule adopted …

Sec. 1231.042. APPLICATION FOR APPROVAL OF ISSUANCE OF STATE SECURITY. To obtain the approval of the board to issue a state security, a state agency or other entity must: (1) apply to the board, in the manner prescribed by the board; and (2) file with the application any informat…

Sec. 1231.043. APPROVAL OF ISSUANCE. The board shall approve the issuance of a state security if, after examining the application and documents or items of information required by the board, the board determines that the issuance is advisable. Added by Acts 1999, 76th Leg., ch. 2…

Sec. 1231.044. STATE AUDITOR REVIEW OF STATE SECURITY PROCEEDS; REPORT. (a) On the board's request, the state auditor shall review the disposition of state security proceeds. (b) The state auditor shall prepare a report of the review and file a copy of the report with: (1) the bo…

Sec. 1231.061. REVIEW OF CERTAIN UNISSUED STATE SECURITIES; BIENNIAL REPORT TO LEGISLATURE. (a) The board shall review all state securities, including general obligation and revenue bonds, that have been authorized but are unissued. (b) Not later than October 31 of each even-numb…

Sec. 1231.062. BIENNIAL DEBT STATISTICS REPORT. (a) Not later than December 31 of each even-numbered year, the board shall submit to the legislature a statistical report relating to: (1) state securities; and (2) bonds and other debt obligations issued by local governments. (b) A…

Sec. 1231.063. DEBT AFFORDABILITY STUDY. (a) The board, in consultation with the Legislative Budget Board, shall annually prepare a study regarding the state's current debt burden by: (1) analyzing the state's historical debt use and financial and economic resources to determine …

Sec. 1231.064. BIENNIAL REPORT ON STATE LENDING AND CREDIT SUPPORT PROGRAMS. (a) In this section: (1) "Credit support program" means a program under which this state guarantees or provides credit enhancements for the debt of any public or private entity, including providing suppo…

Sec. 1231.065. BIENNIAL REPORT ON REPAYMENT OF BONDS ISSUED BY LOCAL GOVERNMENTS. (a) Not later than December 31 of each even-numbered year, the board shall prepare and submit to each standing committee of the legislature with primary jurisdiction over matters relating to finance…

Sec. 1231.081. GENERAL REQUIREMENTS. (a) Each entity that issues a state security shall report to the board its security transactions. (b) A report must: (1) be itemized; (2) state in dollars the information required by Subsection (c) or Sections 1231.082-1231.085 for money paid …

Sec. 1231.082. REPORT OF STATE SECURITY SOLD COMPETITIVELY. A report concerning a state security that is sold competitively must state: (1) the components of the gross spread, including: (A) gross takedown; (B) expenses; and (C) syndicate profit and loss; (2) a summary of obligat…

Sec. 1231.083. REPORT OF STATE SECURITY SOLD THROUGH NEGOTIATION. A report concerning a state security sold through negotiation must state: (1) the components of the spread, including: (A) management fee; (B) structuring fee; (C) underwriting risk; (D) takedown; and (E) spread ex…

Sec. 1231.084. REPORT OF STATE SECURITY SOLD THROUGH PRIVATE PLACEMENT. A report concerning a state security sold through private placement must state: (1) each component of the private placement fee, including the: (A) management fee; (B) placement agent fee; and (C) expenses; a…

Sec. 1231.085. REPORT OF REFUNDING OR ESCROW-RELATED TRANSACTION. A report concerning a refunding or escrow-related transaction must state the spread paid on the purchase or sale of an escrow security. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Sec. 1231.086. ANNUAL BOARD REPORTS. (a) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 1083, Sec. 25(68), eff. June 17, 2011. (b) On November 15 of each year, the board shall send to the lieutenant governor, the speaker of the house, and each member of the legislature a report of t…

Sec. 1231.101. BOND FINANCE OFFICE. (a) The board shall appoint a director to: (1) manage the bond finance office; and (2) select the staff of the office. (b) When practical, the office shall make use of: (1) the resources of the Legislative Budget Board; and (2) the offices of t…

Sec. 1231.102. ANNUAL REPORT. Not later than 90 days after the end of each state fiscal year, the bond finance office shall publish a report listing: (1) the amount of state securities outstanding; (2) applicable repayment schedules; and (3) other information the office considers…

Sec. 1231.103. PROVISION OF INFORMATION RELATING TO OTHER BONDS. The bond finance office may provide information for inclusion in a prospectus related to any bond issued under authority of state law or municipal ordinance. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept…