SECTION 53.247. Documentation of Issuer

The following shall constitute documentation of the issuer:

(1) undated general certificate of the issuer, executed by at least two officers of the issuer, which includes certifications and provisions (or confirmation of any such certifications and provisions which are contained in the basic financing documents) with respect to:

(A) incumbency of the officers and directors;

(B) due incorporation, valid existence, and good standing;

(C) official seal;

(D) documents are in substantially the form approved by or on behalf of the issuer;

(E) appointment of authorized representative, if any;

(F) signature identifications;

(G) the bond documents were properly executed by the issuer, have not been amended or rescinded, and due performance thereof has been authorized by the issuer;

(H) the terms and performance of the bond documents by the issuer are not in conflict with the articles of incorporation or bylaws of the issuer or any other instrument or restriction to which the issuer is a party or subject to;

(I) no-litigation pending or threatened against the issuer with respect to the issuance of the bonds, or the title or authority of the officers and directors of the issuer;

(J) documents submitted are in substantially the form approved by or on behalf of the issuer; and

(K) incorporated as exhibits, as applicable (or may be included as separate documents if certified as to accuracy):

(i) copy of the articles of incorporation as certified by the secretary of state of Texas and bylaws or, alternatively, a certification that there have been no amendments to the articles of incorporation or bylaws since the last submission of bonds or copies of any amendments; and

(ii) copy of certificate of continued existence from the secretary of state of Texas and copy of certificate of good standing from the comptroller of public accounts of Texas, both dated within 60 days of transcript submission;

(2) resolution authorizing issuance of the bonds, including the following provisions:

(A) title of bonds;

(B) legal citation for authority to issue bonds;

(C) specific purpose for which the bonds are issued;

(D) identification of the user; and

(E) total principal amount of bonds to be issued.

Source Note: The provisions of this §53.247 adopted to be effective November 14, 1990, 15 TexReg 6290.