SECTION 53.248. Documentation of User

The following shall constitute documentation of the user:

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

(A) due incorporation or creation, valid existence, and good standing;

(B) incumbency of officers executing bond documents;

(C) appointment of authorized representative, if any;

(D) signature identifications;

(E) the bond documents were properly executed by the user, have not been amended or rescinded, and due performance thereof has been authorized by the user;

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

(G) receipt of all necessary permits and approvals of governmental bodies or agencies with respect to the issuance and sale of the bonds and that the user has received or expects to receive and has applied or shall apply with due diligence for all necessary permits and approvals with respect to the construction and operation of the project;

(H) no event has occurred since the date of the user's application to the issuer to issue the bonds that would result in a material adverse change in the financial condition of the user or in the user's ability to perform its obligations under the bond transaction documents, or certification that the issuer has been provided with a complete description of the facts and circumstances of such event;

(I) no default under any agreement to which the user is a party which would have a material adverse effect on the user, or certification that the issuer has been provided with a complete description of the facts and circumstances of such default;

(J) no-litigation pending or threatened against the user with respect to the authority of the user to enter into the bond transaction or to perform its obligations thereunder;

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

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

(i) copy of articles of incorporation or other evidence of creation as certified by the appropriate state official;

(ii) copy of bylaws, partnership, or other agreement;

(iii) copy of certificate from appropriate state official of state of incorporation or creation of continued existence and good standing, dated within 60 days of transcript submission; and

(iv) for a user created outside the State of Texas, copies of certificate of good standing from the comptroller of public accounts of Texas and certificate of the secretary of state of Texas evidencing authority to do business in the State of Texas, dated within 60 days of transcript submission;

(2) resolution or other evidence approving the bond financing and related documents.

Source Note: The provisions of this §53.248 adopted to be effective November 14, 1990, 15 TexReg 6290.