Bill > HB272

This bill creates a state financing program administered by the Texas Public Finance Authority to assist school districts with certain expenses, such as borrowing money, issuing bonds or notes, and leasing or purchasing equipment and facilities. The bill grants the Texas Public Finance Authority the authority to issue obligations to fund these activities, up to $100 million in aggregate. The bill also establishes payment protections for the Texas Public Finance Authority, including allowing the state to withhold Foundation School Program funds from a school district that fails to pay its obligations. Additionally, the bill allows school districts to apply for credit enhancement under the existing Instructional Facilities Allotment program for obligations issued under this new financing program.

Education

http://www.legis.state.tx.us/BillLookup/History.aspx?LegSess=851&Bill=HB272