Tex. Spec. Dist. Local Laws Code Section 5012.0206
Bond Anticipation Notes

(a)

The commission may declare an emergency because money is not available to meet any of the authority’s needs, including to pay the principal of and interest on authority bonds.

(b)

Bond anticipation notes may bear interest at a rate not to exceed 10 percent and must mature not later than one year after the date of issuance.

(c)

Bond anticipation notes issued by the authority must be taken up with the proceeds of the bonds, or the bonds may be issued and delivered in exchange for the bond anticipation notes.

Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.01, eff. April 1, 2021.

Source: Section 5012.0206 — Bond Anticipation Notes, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.5012.htm#5012.0206 (accessed Jun. 5, 2024).

5012.0001
Definitions 5012.0002
Legislative Findings of Purpose and Benefit 5012.0003
Authority Territory 5012.0051
Commission 5012.0052
Qualifications for Office 5012.0053
Notice of Commissioners’ Election 5012.0054
Election Results 5012.0055
Commissioners’ Oath and Bond 5012.0056
Voting Requirement 5012.0057
Officers 5012.0058
Compensation of Commissioners 5012.0101
General Powers 5012.0102
Powers Regarding Ports, Waterways, and Facilities 5012.0103
Bylaws and Rules 5012.0104
Gift or Purchase of Property 5012.0105
Eminent Domain 5012.0106
Lease of Authority Facilities 5012.0107
Sale of Surplus Property 5012.0108
General Authority to Make Contracts and Execute Instruments 5012.0109
Competitive Bidding for Certain Contracts 5012.0110
Officers, Agents, and Employees 5012.0111
Seal 5012.0112
Authority to Sue and Be Sued 5012.0151
Maintenance and Operations Tax 5012.0152
Tax Assessor and Collector 5012.0153
Authority to Borrow Money, Accept Grants, and Issue Associated Revenue Bonds 5012.0154
Authority to Borrow Money for Current Expenses 5012.0201
Authority to Issue Bonds 5012.0202
Form of Bonds 5012.0203
Terms of Issuance 5012.0204
Deposit of Proceeds 5012.0205
Resolution Provisions 5012.0206
Bond Anticipation Notes 5012.0207
Refunding Bonds

Accessed:
Jun. 5, 2024

§ 5012.0206’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._spec._dist._local_laws_code_section_5012.0206

Original Source: Section 5012.0206 — Bond Anticipation Notes, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.5012.htm#5012.0206 (last accessed Jun. 5, 2024).