SECTION 53.183. Closings

(a) Basic financing documents are to be submitted to the Public Finance Section of the attorney general's office a minimum of 12 working days prior to the proposed bond closing along with the appropriate examination fee as required by Texas Civil Statutes, Article 717k-6. One of the 12 days is needed in order to transmit approved bonds to the comptroller of public accounts for registration. Under extraordinary circumstances, a shorter review period will be considered, but only upon preclearance with the Public Finance Section. Certificates and other documentation should be submitted with, or as soon as possible after, the submission of the basic financing documents. It is highly recommended that closings not be scheduled prior to contacting the Public Finance Section.

(b) If documents cannot be executed in time to meet submittal requirements, it is acceptable to submit unexecuted documents in substantially final form. If any changes are made to the documents after they are first submitted, blacklined copies showing all changes must also be submitted. Any substantive changes may delay approval.

(c) The attorney general will send a representative to out-of-town closings only if truly necessary and only if precleared with the Public Finance Section.

Source Note: The provisions of this §53.183 adopted to be effective November 14, 1990, 15 TexReg 6289.