Title GV, Government Code

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…

Sec. 1232.001. SHORT TITLE. This chapter may be cited as the Texas Public Finance Authority Act. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Sec. 1232.002. PURPOSE. The purpose of this chapter is to provide a method of financing for: (1) the acquisition or construction of buildings; (2) the purchase or lease of equipment by executive or judicial branch state agencies; and (3) customer rate relief bonds authorized by t…

Sec. 1232.003. DEFINITIONS. In this chapter: (1) "Authority" means the Texas Public Finance Authority. (2) "Board" means the board of directors of the authority. (3) "Building" means: (A) a structure used by a state agency to conduct state business; and (B) the major equipment or…

Sec. 1232.004. STATE LEASE FUND ACCOUNT. (a) The state lease fund account is an account in the general revenue fund and may be used only for a purpose designated by law. (b) The state lease fund account may be used to finance an appropriation to the commission or a state agency o…

Sec. 1232.005. APPLICATION OF STATE FUNDS REFORM ACT. All money paid to the authority under this chapter is subject to Subchapter F, Chapter 404. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. SUBCHAPTER B. TEXAS PUBLIC FINANCE AUTHORITY

Sec. 1232.051. TEXAS PUBLIC FINANCE AUTHORITY. The Texas Public Finance Authority is a public authority and a body politic and corporate. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Sec. 1232.052. COMPOSITION OF GOVERNING BOARD. (a) The authority is governed by a board of directors composed of seven members appointed by the governor with the advice and consent of the senate. (b) A person is not eligible for appointment as a member of the board if the person …

Sec. 1232.053. TERMS. Members of the board are appointed for staggered terms of six years, with two or three members' terms expiring February 1 of each odd-numbered year. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 646,…

Sec. 1232.054. GROUNDS FOR REMOVAL. (a) It is a ground for removal from the board that a member: (1) violates a prohibition established by Section 1232.060; (2) cannot because of illness or disability discharge the member's duties for a substantial part of the term for which the …

Sec. 1232.055. BOARD MEMBER TRAINING. (a) To be eligible to take office as a member of the board, a person appointed to the board must complete at least one course of a training program that complies with this section. (b) The training program must provide information to the pers…

Sec. 1232.056. OFFICERS; MEETINGS. (a) The governor shall designate a member of the board as the presiding officer to serve in that capacity at the pleasure of the governor. The board biennially shall elect an assistant presiding officer from its members. (b) The board shall meet…

Sec. 1232.057. PUBLIC TESTIMONY AT BOARD MEETINGS. The board shall develop and implement policies that provide the public with a reasonable opportunity to appear before the board and to speak on any issue under the jurisdiction of the authority. Added by Acts 1999, 76th Leg., ch.…

Sec. 1232.058. COMPENSATION AND EXPENSES. A board member is entitled to: (1) a per diem of $50, unless otherwise specified in the General Appropriations Act, for each day the member performs functions as a board member; and (2) reimbursement for actual and necessary expenses that…

Sec. 1232.059. STAFF; CONSULTANTS. (a) The board shall employ persons and contract with consultants necessary for the board to perform its functions. (b) Employees of the authority are considered to be state employees. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,…

Sec. 1232.060. CONFLICT OF INTEREST. (a) An officer, employee, or paid consultant of a Texas trade association in the field of public finance may not be a member of the board or an employee of the authority who is exempt from the state's position classification plan or is compens…

Sec. 1232.061. INFORMATION ON RESPONSIBILITIES OF BOARD MEMBERS AND EMPLOYEES. The executive director of the authority or the executive director's designee shall provide to members of the board and to authority employees, as often as necessary, information regarding their qualifi…

Sec. 1232.062. SEPARATION OF POLICYMAKING AND MANAGEMENT RESPONSIBILITIES. The board shall develop and implement policies that clearly separate the policymaking responsibilities of the board and the management responsibilities of the executive director and the staff of the author…

Sec. 1232.063. EQUAL EMPLOYMENT OPPORTUNITY. (a) The executive director of the authority or the executive director's designee shall prepare and maintain a written policy statement to assure implementation of a program of equal employment opportunity under which all personnel tran…

Sec. 1232.064. CAREER LADDER; EMPLOYEE PERFORMANCE EVALUATIONS. (a) The executive director of the authority or the executive director's designee shall develop an intra-agency career ladder program that addresses opportunities for mobility and advancement for employees within the …

Sec. 1232.065. COMPLIANCE WITH LAWS RELATING TO ACCESSIBILITY. The authority shall comply with federal and state laws related to program and facility accessibility. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Sec. 1232.066. BOARD AUTHORITY. (a) The board's authority under this chapter is limited to the financing of: (1) the acquisition or construction of a building; (2) the purchase or lease of equipment; (3) stranded costs of a municipal power agency; or (4) customer rate relief bond…

Sec. 1232.067. GENERAL POWERS. The board may: (1) exercise, to the extent practicable, all powers given to a corporation under the general laws of the state; (2) have perpetual succession by its corporate name; (3) sue and be sued in its corporate name; (4) adopt a seal for use a…

Sec. 1232.068. EMINENT DOMAIN. The authority may exercise the power of eminent domain for the purposes set forth in this chapter in connection with the acquisition or construction of a building that is authorized as provided by Section 1232.108. Added by Acts 1999, 76th Leg., ch.…

Sec. 1232.070. INFORMATION ON COMPLAINTS. (a) The authority shall keep a file about each written complaint filed with the authority that the authority has authority to resolve. The authority shall provide to the person filing the complaint and the persons complained about the aut…

Sec. 1232.071. RELATIONSHIP TO PREVIOUS BOARD. (a) The Texas Public Finance Authority owns the property formerly owned by, and is the successor to each lease or rental contract entered into by, the Texas Public Building Authority created by Chapter 700, Acts of the 68th Legislatu…

Sec. 1232.072. SUNSET PROVISION. The Texas Public Finance Authority is subject to Chapter 325 (Texas Sunset Act). Unless continued in existence as provided by that chapter, the authority is abolished and this chapter expires September 1, 2029. Added by Acts 1999, 76th Leg., ch. 2…

Sec. 1232.073. NEGOTIATED RULEMAKING AND ALTERNATIVE DISPUTE RESOLUTION. (a) The board shall develop and implement a policy to encourage the use of: (1) negotiated rulemaking procedures under Chapter 2008 for the adoption of authority rules; and (2) appropriate alternative disput…

Sec. 1232.101. ISSUANCE OF BONDS FOR CERTAIN STATE AGENCIES. (a) With respect to all bonds authorized to be issued by or on behalf of the Texas Military Department, Parks and Wildlife Department, Texas Agricultural Finance Authority, Texas Low-Level Radioactive Waste Disposal Aut…

Sec. 1232.102. ISSUANCE OF BONDS FOR STATE OFFICE BUILDINGS. (a) The board may issue and sell bonds in the name of the authority to finance the acquisition or construction of buildings. After receiving a request described by Section 2166.452, the board may issue bonds in amounts …

Sec. 1232.1025. ISSUANCE OF BONDS FOR MILITARY FACILITIES. (a) The board may issue and sell bonds in the name of the authority to finance the acquisition or construction of buildings to be used as state military forces facilities. (b) After receiving a request under Section 437.1…

Sec. 1232.1026. ISSUANCE OF BONDS FOR TEXAS BULLION DEPOSITORY BUILDINGS. (a) The board may issue and sell bonds in the name of the authority to finance the acquisition or construction of buildings to be used to operate the Texas Bullion Depository, including the acquisition of r…

Sec. 1232.103. ISSUANCE OF OBLIGATIONS FOR EQUIPMENT. (a) The authority may issue and sell obligations for the financing of: (1) a lease or other agreement that concerns equipment that an executive or judicial branch state agency has purchased or leased or intends to purchase or …