Tex. Local Gov't Code Section 271.049
Notice of Intention to Issue Certificates; Petition and Election


(a)

Regardless of the sources of payment of certificates, certificates may not be issued unless the issuer publishes notice of its intention to issue the certificates. The notice must be published:

(1)

once a week for two consecutive weeks in a newspaper, as defined by Subchapter C (Definitions), Chapter 2051 (Government Documents, Publications, and Notices), Government Code, that is of general circulation in the area of the issuer, with the date of the first publication to be before the 45th day before the date tentatively set for the passage of the order or ordinance authorizing the issuance of the certificates; and

(2)

if the issuer maintains an Internet website, continuously on the issuer’s website for at least 45 days before the date tentatively set for the passage of the order or ordinance authorizing the issuance of the certificates.

(b)

The notice must state:

(1)

the time and place tentatively set for the passage of the order or ordinance authorizing the issuance of the certificates;

(2)

the purpose of the certificates to be authorized;

(3)

the manner in which the certificates will be paid for, whether by taxes, revenues, or a combination of the two;

(4)

the following:

(A)

the then-current principal of all outstanding debt obligations of the issuer;

(B)

the then-current combined principal and interest required to pay all outstanding debt obligations of the issuer on time and in full, which may be based on the issuer’s expectations relative to the interest due on any variable rate debt obligations;

(C)

the maximum principal amount of the certificates to be authorized; and

(D)

the estimated combined principal and interest required to pay the certificates to be authorized on time and in full;

(5)

the estimated interest rate for the certificates to be authorized or that the maximum interest rate for the certificates may not exceed the maximum legal interest rate; and

(6)

the maximum maturity date of the certificates to be authorized.

(c)

If before the date tentatively set for the authorization of the issuance of the certificates or if before the authorization, the municipal secretary or clerk if the issuer is a municipality, or the county clerk if the issuer is a county, receives a petition signed by at least five percent of the qualified voters of the issuer protesting the issuance of the certificates, the issuer may not authorize the issuance of the certificates unless the issuance is approved at an election ordered, held, and conducted in the manner provided for bond elections under Chapter 1251 (Bond Elections), Government Code.

(d)

This section does not apply to certificates issued for the purposes described by Sections 271.056 (Exemptions from Advertisement Requirement)(1)-(4).

(e)

In this section, “debt obligation” means a public security, as defined by Section 1201.002 (Definitions), Government Code, secured by and payable from ad valorem taxes. The term does not include public securities that are designated as self-supporting by the political subdivision issuing the securities.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1995, 74th Leg., ch. 76, Sec. 5.95(3), eff. Sept. 1, 1995; Acts 2001, 77th Leg., ch. 1420, Sec. 8.295, eff. Sept. 1, 2001; Acts 2001, 77th Leg., ch. 402, Sec. 15, eff. Sept. 1, 2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1008 (H.B. 730), Sec. 1, eff. June 15, 2007.
Acts 2019, 86th Leg., R.S., Ch. 728 (H.B. 477), Sec. 5, eff. September 1, 2019.

Source: Section 271.049 — Notice of Intention to Issue Certificates; Petition and Election, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­271.­htm#271.­049 (accessed Mar. 23, 2024).

271.001
Short Title
271.002
Purpose
271.003
Definitions
271.004
Real Property and Improvements for School Districts
271.005
Authority to Contract for Personal Property
271.006
Compliance with Other Requirements
271.007
Approved and Registered Contract
271.008
Authorized Investments
271.009
Term of Contract
271.021
Definitions
271.022
Exempt Contract
271.023
Conflict of Laws
271.024
Competitive Procurement Procedure Applicable to Contract
271.025
Advertisement for Bids
271.026
Opening of Bids
271.027
Award of Contract
271.028
Effect of Noncompliance
271.029
Criminal Penalties
271.041
Short Title
271.042
Purpose
271.043
Definitions
271.044
Subchapter Available to Certain Municipalities
271.045
Purposes for Which Certificates May Be Authorized
271.046
Additional Purposes for Certificates
271.047
Authorization of Certificates by Ordinance or Order
271.048
Claims and Accounts
271.049
Notice of Intention to Issue Certificates
271.050
Sale of Certificates
271.051
Certificates as Investments or as Security for Deposits
271.052
Certificates Payable from and Secured by Other Revenues
271.053
Certificates as Debt and Security
271.054
Competitive Procurement Requirement
271.055
Notice to Bidders
271.056
Exemptions from Advertisement Requirement
271.057
Award of Contract
271.058
Authority to Reject Bids
271.059
Contractor’s Bonds
271.060
Change Orders
271.061
Compensation on Unit Price Contracts
271.062
Certain Contracts Not Required to Be in Writing
271.063
Unconstitutional Procedure Corrected by Resolution of Issuer
271.064
Criminal Penalties
271.0065
Additional Competitive Procedures
271.081
Definition
271.082
Purchasing Program
271.083
Local Government Participation
271.091
Definitions
271.092
Agreement with Texas Bond Review Board and Comptroller
271.093
Form of Agreement
271.094
Notice, Deposit of Debt Service, Authorization, and Transmittal
271.095
Right to Pledge Payments
271.096
Administration, Rules, Fees
271.101
Definitions
271.102
Cooperative Purchasing Program Participation
271.103
Federal Supply Schedule Sources
271.151
Definitions
271.152
Waiver of Immunity to Suit for Certain Claims
271.153
Limitations on Adjudication Awards
271.154
Contractual Adjudication Procedures Enforceable
271.155
No Waiver of Other Defenses
271.156
No Waiver of Immunity to Suit in Federal Court
271.157
No Waiver of Immunity to Suit for Tort Liability
271.158
No Grant of Immunity to Suit
271.160
Joint Enterprise
271.181
Definitions
271.182
Applicability
271.186
Limitation on Number of Projects
271.0245
Additional Competitive Procedures
271.0275
Safety Record of Bidder Considered
271.0461
Additional Purpose for Certificates: Demolition of Dangerous Structures or Restoration of Historic Structures
271.0525
Refinancing Certificates Issued by County
271.0565
Pre-bid Conference
271.901
Procedure for Awarding Contract if Municipality or District Receives Identical Bids
271.902
Prohibition of Conflict of Interest in Purchase by Municipality or County from Cooperative Associations
271.903
Commitment of Current Revenue
271.904
Engineering or Architectural Services Contracts: Indemnification Limitations
271.905
Consideration of Location of Bidder’s Principal Place of Business
271.906
Reverse Auction Method of Purchasing
271.907
Vendors that Meet or Exceed Air Quality Standards
271.908
Local Government Contracts with Private Entities for Civil Works Projects and Improvements to Real Property
271.9041
Appraisal Service Contracts
271.9051
Consideration of Location of Bidder’s Principal Place of Business in Certain Municipalities

Accessed:
Mar. 23, 2024

§ 271.049’s source at texas​.gov