Tex. Educ. Code § 53A.49 · Subchapter C. POWERS AND DUTIES
BONDS FOR CERTAIN SCHOOLS OWNED AND OPERATED BY NONPROFIT CORPORATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In the same manner that a corporation may issue bonds under this chapter for an institution of higher education, a corporation created under Section 53A.35(b) may issue bonds to finance or refinance educational facilities to be used by a school that:
(1) is located in a county with a population of more than 2.5 million;
(2) is located within three miles of an area designated as an enterprise zone under Chapter 2303, Government Code;
(3) provides primary and secondary education to at least 1,000 students;
(4) is accredited by an organization approved by the Texas Education Agency for private school accreditation; and
(5) is owned and operated by a corporation created under the Texas Nonprofit Corporation Law, as described by Section 1.008(d), Business Organizations Code.
(b) Notwithstanding Section 53A.34(b), bonds issued under this section may be payable from and secured by a pledge of any revenue or assets pledged for that purpose.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 2, eff. September 1, 2005.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1163 (H.B. 2702), Sec. 12, eff. September 1, 2011.
Acts 2023, 88th Leg., R.S., Ch. 644 (H.B. 4559), Sec. 23, eff. September 1, 2023.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.53A.htm
- Text hash
- sha256 4d03e97419b0c2c72950d2fef8dc9b26bb8cfb43f9ae449ce4601b6fae821690
- 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
This section cites
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Business Organizations Code
Education Code
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