Texas Administrative Code
Title 1 - ADMINISTRATION
Part 3 - OFFICE OF THE ATTORNEY GENERAL
Chapter 53 - MUNICIPAL SECURITIES
Subchapter P - OTHER CORPORATION BONDS
Section 53.247 - Documentation of Issuer
Universal Citation: 1 TX Admin Code ยง 53.247
Current through Reg. 49, No. 38; September 20, 2024
The following shall constitute documentation of the issuer:
(1) undated general certificate of the issuer, executed by at least two officers of the issuer, which includes certifications and provisions (or confirmation of any such certifications and provisions which are contained in the basic financing documents) with respect to:
(A) incumbency of
the officers and directors;
(B) due
incorporation, valid existence, and good standing;
(C) official seal;
(D) documents are in substantially the form
approved by or on behalf of the issuer;
(E) appointment of authorized representative,
if any;
(F) signature
identifications;
(G) the bond
documents were properly executed by the issuer, have not been amended or
rescinded, and due performance thereof has been authorized by the
issuer;
(H) the terms and
performance of the bond documents by the issuer are not in conflict with the
articles of incorporation or bylaws of the issuer or any other instrument or
restriction to which the issuer is a party or subject to;
(I) no-litigation pending or threatened
against the issuer with respect to the issuance of the bonds, or the title or
authority of the officers and directors of the issuer;
(J) documents submitted are in substantially
the form approved by or on behalf of the issuer; and
(K) incorporated as exhibits, as applicable
(or may be included as separate documents if certified as to accuracy):
(i) copy of the articles of incorporation as
certified by the secretary of state of Texas and bylaws or, alternatively, a
certification that there have been no amendments to the articles of
incorporation or bylaws since the last submission of bonds or copies of any
amendments; and
(ii) copy of
certificate of continued existence from the secretary of state of Texas and
copy of certificate of good standing from the comptroller of public accounts of
Texas, both dated within 60 days of transcript submission;
(2) resolution authorizing issuance of the bonds, including the following provisions:
(A) title of bonds;
(B) legal citation for authority to issue
bonds;
(C) specific purpose for
which the bonds are issued;
(D)
identification of the user; and
(E)
total principal amount of bonds to be issued.
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