Tex. Gov't Code § 1431.015 · Chapter 1431. ANTICIPATION NOTES
CERTAIN NOTES OR OTHER OBLIGATIONS FOR EMERGENCY FINANCING.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "emergency" means the occurrence of widespread or severe damage, injury, or loss of life or property affecting an area in the jurisdiction of an issuer and resulting from a hurricane or tropical storm, including wind damage, fire damage, damage from wave action, or flood damage resulting from the hurricane or tropical storm.
(b) Notwithstanding any other provision of this chapter or a rating requirement prescribed by Chapter 1371, an issuer located within 70 miles of the Gulf of Mexico or of a bay or inlet of the gulf may authorize the issuance of an anticipation note or other obligation in the event of an emergency. An anticipation note or other obligation issued under this section is an obligation under Chapter 1371, but is not required to be rated as required by that chapter.
(c) The issuer shall deliver to the attorney general, in accordance with Section 1431.017, a transcript of proceedings related to the issuance of an anticipation note or other obligation issued under this section. However, before delivery of an anticipation note or other obligation issued under this section:
(1) the governor must have issued an executive order or proclamation under Chapter 418 declaring a state of disaster and designating the area affected by the emergency;
(2) the governing body acting through its presiding officer under Chapter 418 must have declared a local state of disaster designating the area affected by the emergency; or
(3) the governor must have proclaimed under Chapter 433 a state of emergency designating the area affected by the emergency.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 929 (H.B. 3270), Sec. 6, eff. June 15, 2007.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 1013 (H.B. 3097), Sec. 1, eff. June 18, 2023.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1431.htm
- Text hash
- sha256 ddf92360e7a1a7dee1e42e7bf238b781409634068e2ad973c0cc5a002afc145e
- 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
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Government Code
Cited by 8 provisions
Provisions in this library whose text cites Tex. Gov't Code § 1431.015. Each shows the citation as that text prints it.
Government Code
- Tex. Gov't Code § 1431.004USES OF ANTICIPATION NOTE PROCEEDS.Printed as Section 1431.015
- Tex. Gov't Code § 1431.006LIMITATION ON NOTES TO PAY EXPENSES.Printed as Section 1431.015
- Tex. Gov't Code § 1431.007GENERAL SOURCES OF PAYMENT.Printed as Section 1431.015
- Tex. Gov't Code § 1431.009MATURITY.Printed as Section 1431.015
- Tex. Gov't Code § 1431.012RESTRICTION ON CERTAIN CONTRACTS PAYABLE FROM PROCEEDS OF NOTES.Printed as Section 1431.015
- Tex. Gov't Code § 1431.016CONFLICTS WITH MUNICIPAL CHARTER.Printed as Section 1431.015
- Tex. Gov't Code § 1431.017ATTORNEY GENERAL REVIEW.Printed as Section 1431.015
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.