Tex.
Labor Code Section 203.252
Definitions; General Provision
(a)
In this subchapter:(1)
“Authority” means the Texas Public Finance Authority.(2)
“Bond” means any type of revenue obligation, including a bond, note, certificate, or other instrument, payable from and secured by a pledge of revenues received from the unemployment obligation assessment and amounts on deposit in the obligation trust fund to the extent provided in the proceedings authorizing the obligation.(3)
“Bond administrative expenses” means expenses incurred to administer bonds issued under this subchapter, including fees for paying agents, trustees, and attorneys, and for other professional services necessary to ensure compliance with applicable state or federal law.(4)
“Bond obligations” means the principal of a bond and any premium and interest on a bond issued under this subchapter, together with any amount owed under a related credit agreement.(5)
“Credit agreement” means a loan agreement, a revolving credit agreement, an agreement establishing a line of credit, a letter of credit, an interest rate swap agreement, an interest rate lock agreement, a currency swap agreement, a forward payment conversion agreement, an agreement to provide payments based on levels of or changes in interest rates or currency exchange rates, an agreement to exchange cash flows or a series of payments, an option, put, or call to hedge payment, currency, interest rate, or other exposure, or another agreement that enhances the marketability, security, or creditworthiness of a bond issued under this subchapter.(b)
An amount owed by the authority under a credit agreement shall be payable from and secured by a pledge of revenues received from the unemployment obligation assessment and amounts on deposit in the obligation trust fund to the extent provided in the proceedings authorizing the credit agreement.
Source:
Section 203.252 — Definitions; General Provision, https://statutes.capitol.texas.gov/Docs/LA/htm/LA.203.htm#203.252 (accessed Jun. 5, 2024).
