Tex. Loc. Gov't Code § 303.003 · Subchapter A. GENERAL PROVISIONS
DEFINITIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In this chapter:
(1) "Board of directors" means the board of directors of a corporation.
(2) "Bonds" includes notes, interim certificates, or other evidences of indebtedness of a corporation issued or incurred under this chapter.
(3) "Corporation" means a public facility corporation created and existing under this chapter.
(4) "Credit agreement" means a loan agreement, revolving credit agreement, agreement establishing a line of credit, letter of credit, reimbursement agreement, insurance contract, commitment to purchase bonds or sponsor obligations, purchase or sale agreement, interest rate or commodities price swap agreement, cap or collar agreement, protection or management agreement, or commitment or other contract or agreement authorized and approved by the board of directors of a corporation in anticipation of, related to, or in connection with the authorization, issuance, incurrence, sale, security, exchange, payment, purchase, remarketing, or redemption of bonds or interest on bonds.
(5) "Director" means a member of a board of directors.
(6) "Housing authority" means a public corporation created under Chapter 392.
(7) "Public facility" means any real, personal, or mixed property, or an interest in property devoted or to be devoted to public use, and authorized to be financed, refinanced, or provided by sponsor obligations or bonds issued under this chapter.
(8) "Resolution" means a resolution, order, ordinance, or other official action by the governing body of a sponsor.
(9) "School district" means a political subdivision created under Section 3, Article VII, Texas Constitution.
(10) "Special district" means:
(A) a district created under Section 52, Article III, or Section 59, Article XVI, Texas Constitution;
(B) a hospital district or authority; or
(C) a junior college district authorized by Chapter 130, Education Code.
(11) "Sponsor" means a municipality, county, school district, housing authority, or special district that causes a corporation to be created to act in accordance with this chapter.
(12) "Sponsor obligation" means an evidence of indebtedness or obligation that a sponsor issues or incurs to finance, refinance, or provide a public facility, including bonds, notes, warrants, certificates of obligation, leases, and contracts authorized by Section 303.041 and Subchapter C.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 11, eff. Sept. 1, 1999.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 488 (H.B. 2679), Sec. 1, eff. June 16, 2015.
Acts 2015, 84th Leg., R.S., Ch. 488 (H.B. 2679), Sec. 2, eff. June 16, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.303.htm
- Text hash
- sha256 d0361a8c440d9a2e89ca722da7165c7aa4c6dbf3eaca8769fc31275b9664707a
- 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.
The Texas Constitution
- Tex. Const. art. VII, § 3TAXES FOR BENEFIT OF SCHOOLS; PROVISION OF FREE TEXT BOOKS; SCHOOL DISTRICTS.Printed as Section 3, Article VII, Texas Constitution
- Tex. Const. art. XVI, § 59CONSERVATION AND DEVELOPMENT OF NATURAL RESOURCES; DEVELOPMENT OF PARKS AND RECREATIONAL FACILITIES; CONSERVATION AND RECLAMATION DISTRICTS; INDEBTEDNESS AND TAXATION AUTHORIZED.Printed as Section 59, Article XVI, Texas Constitution
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.