Tex. Educ. Code § 45.252 · Subchapter I. INTERCEPT PROGRAM TO PROVIDE CREDIT ENHANCEMENT FOR BONDS
INTERCEPT CREDIT ENHANCEMENT PROGRAM.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If a school district's application for guarantee of district bonds by the corpus and income of the permanent school fund as provided by Subchapter C is rejected, the district may apply under this subchapter for credit enhancement of bonds described by Section 45.054 by money appropriated for the Foundation School Program, other than money that is appropriated to school districts specifically:
(1) as required under the Texas Constitution; or
(2) for assistance in paying debt service.
(b) The same school district bonds may not benefit under both Subchapter C and this subchapter.
(c) Notwithstanding any amendment of this subchapter or other law, the credit enhancement provided under this subchapter for school district bonds remains in effect until the date those bonds mature or are defeased in accordance with state law.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 1328 (H.B. 3646), Sec. 75, eff. September 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.45.htm
- Text hash
- sha256 a3755f5295846b187ec6ba4bb057289f8e83d8e4042581e9504d404e248ecef6
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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