SECTION 53.195. Documentation of Approving Governing Body

The following shall constitute documentation of the approving governing body:

(1) resolution of the governing body approving the resolution of the corporation providing for the issuance of the bonds which resolution shall not be adopted more than 60 days prior to the delivery date of the bonds. Such resolution shall include:

(A) approval of issuance of the bonds;

(B) statement of the purpose and amount of the bonds; and

(C) identification of the user;

(2) undated general certificate of the governing body, executed by at least two officers of the governing body, which includes certifications and provisions with respect to:

(A) incumbency of the governing body and directors of the corporation;

(B) approval of all programs and expenditures of the corporation;

(C) approval of the initial bylaws and articles of incorporation of the corporation and all amendments to the corporation's articles of incorporation, if any; and

(D) no-litigation pending or threatened against the unit or governing body with respect to the issuance or approval of the bonds, the creation of the corporation, or the title or authority of the governing body or directors of the corporation.

Source Note: The provisions of this §53.195 adopted to be effective November 14, 1990, 15 TexReg 6289.