SECTION 293.85. Change in Commission Approved Maturity Schedules, Commission Approved Tax Rates, or Increase in Commission Approved Bond Interest Rate

(a) If a district proposes an increase in a commission approved interest rate or a change in maturity schedule which requires no increase in bond amount or change in the commission approved tax rate, the district shall file a written statement with the executive director signed by the board president indicating that no such increase or change is required and shall provide a revised bond issue cost summary. Under these conditions, no further approval is required.

(b) If a district proposes a change in a commission approved interest rate or a change in maturity schedule which requires an increase in the bond amount, approval of the commission of a bond amendment by the district is required.

(c) If a district proposes a change in a commission approved interest rate or maturity schedule which requires a change in the commission approved tax rate, approval of the executive director is required. To secure such approval, the district shall file the following:

(1) a resolution by the governing board requesting approval of the change;

(2) a revised cost summary, if applicable, projection of revenues and expenses, and amortization schedule, as applicable;

(3) a detailed explanation for the change;

(4) a filing fee in the amount of $100; and

(5) other information as the executive director may require.

Source Note: The provisions of this §293.85 adopted to be effective September 5, 1986, 11 TexReg 3745; amended to be effective June 30, 1993, 18 TexReg 3758; amended to be effective April 15, 1994, 19 TexReg 2301.