Texas Administrative Code
Title 1 - ADMINISTRATION
Part 3 - OFFICE OF THE ATTORNEY GENERAL
Chapter 53 - MUNICIPAL SECURITIES
Subchapter A - APPROVAL OF MUNICIPAL SECURITIES BY ATTORNEY GENERAL
Section 53.6 - Satisfaction of Coverage
Universal Citation: 1 TX Admin Code ยง 53.6
Current through Reg. 49, No. 38; September 20, 2024
The maximum annual debt service reflected in the debt retirement schedule may not exceed:
(1) for proposed public securities supported in whole or in part by ad valorem taxes, the product of the bond allowable rate, the applicable collection rate, and the issuer's most recent certified taxable assessed valuation; and/or
(2) for proposed public securities supported by revenues, the issuer's certified historical or projected revenue collection amount, as applicable.
Disclaimer: These regulations may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
