Texas Administrative Code
Title 1 - ADMINISTRATION
Part 3 - OFFICE OF THE ATTORNEY GENERAL
Chapter 53 - MUNICIPAL SECURITIES
Subchapter N - HEALTH FACILITIES DEVELOPMENT CORPORATION BONDS
Section 53.215 - Documentation of User

Universal Citation: 1 TX Admin Code ยง 53.215

Current through Reg. 49, No. 38; September 20, 2024

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(E) the bond documents submitted were properly executed by the user, have not been amended or rescinded, and due performance thereof has been authorized by the user;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 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 the user has received or expects to receive and has applied or shall apply with due diligence for all necessary permits and approval with respect to the construction or operation of the project;

(H) no event has occurred since the date of the user's application to the corporation 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 corporation 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 corporation has been provided with a complete description of the facts and circumstances of such default;

(J) location of health facilities (whether located within limits of sponsoring entity);

(K) 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 the obligations thereunder;

(L) documents submitted are in substantially the form approved by or on behalf of the corporation; and

(M) 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;

(iv) for a user created outside this state, 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, both dated within 60 days of transcript submission; and

(v) if a health facility is to be financed within the limits of a sponsoring entity different from that of the corporation issuing the bonds, a copy of the consent of such sponsoring entity;

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

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.