Texas Administrative Code (Last Updated: March 27,2024) |
TITLE 1. ADMINISTRATION |
PART 3. OFFICE OF THE ATTORNEY GENERAL |
CHAPTER 53. MUNICIPAL SECURITIES |
SUBCHAPTER E. APPROVAL OF ISSUES OF CERTIFICATES OF OBLIGATION |
SECTION 53.78. Approval of Certificates
Latest version.
-
Certificates will be approved under Texas Civil Statutes, Article 2368a.1, §7(8), where their amount is not in excess of 25% of those current funds or bond funds committed to the project, and such certificates are necessary in order to provide for deficiency to enable contract award to be made.
Source Note: The provisions of this §53.78 adopted to be effective January 1, 1976.