Texas Administrative Code
Title 1 - ADMINISTRATION
Part 3 - OFFICE OF THE ATTORNEY GENERAL
Chapter 53 - MUNICIPAL SECURITIES
Subchapter M - DEVELOPMENT CORPORATION BONDS
Section 53.195 - Documentation of Approving Governing Body
Universal Citation: 1 TX Admin Code ยง 53.195
Current through Reg. 49, No. 38; September 20, 2024
The following shall constitute documentation of the approving governing body:
(1) resolution of the governing body approving the resolution of the corporation providing for the issuance of the bonds which resolution shall not be adopted more than 60 days prior to the delivery date of the bonds. Such resolution shall include:
(A) approval of issuance of
the bonds;
(B) statement of the
purpose and amount of the bonds; and
(C) identification of the user;
(2) undated general certificate of the governing body, executed by at least two officers of the governing body, which includes certifications and provisions with respect to:
(A) incumbency of the governing body and
directors of the corporation;
(B)
approval of all programs and expenditures of the corporation;
(C) approval of the initial bylaws and
articles of incorporation of the corporation and all amendments to the
corporation's articles of incorporation, if any; and
(D) no-litigation pending or threatened
against the unit or governing body with respect to the issuance or approval of
the bonds, the creation of the corporation, or the title or authority of the
governing body or directors of the corporation.
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