CHAPTER 1476. CERTIFICATES OF INDEBTEDNESS IN COUNTIES WITH POPULATION OF MORE THAN 1.5 MILLION - Texas Statutes

GOVERNMENT CODE

TITLE 9. PUBLIC SECURITIES

SUBTITLE I. SPECIFIC AUTHORITY FOR COUNTIES TO ISSUE SECURITIES

CHAPTER 1476. CERTIFICATES OF INDEBTEDNESS IN COUNTIES WITH

POPULATION OF MORE THAN 1.5 MILLION

Sec. 1476.001. APPLICABILITY OF CHAPTER. (a) This chapter

applies only to a county with a population of more than 1.5

million.

(b) If certificates of indebtedness were not issued under this

chapter by January 1, 1980, this chapter has no effect.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1476.002. AUTHORITY TO ISSUE CERTIFICATES OF INDEBTEDNESS

FOR CERTAIN PURPOSES. A county may issue certificates of

indebtedness:

(1) in an amount not to exceed $2 million to construct, enlarge,

furnish, equip, or repair a county building or other permanent

improvement; or

(2) in an amount not to exceed $3.5 million to:

(A) purchase right-of-way in participation with the Texas

Department of Transportation in connection with a designated

state highway; or

(B) construct a curb, gutter, or drainage facility for a

designated state highway.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1476.003. AUTHORIZATION OF CERTIFICATES OF INDEBTEDNESS BY

COMMISSIONERS COURT. Certificates of indebtedness issued under

this chapter must be authorized by order of the commissioners

court of the county.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1476.004. EXECUTION; REGISTRATION BY COUNTY TREASURER. A

certificate of indebtedness issued under this chapter must be:

(1) signed by the county judge;

(2) attested by the county clerk; and

(3) registered by the county treasurer.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1476.005. CASH SALE. A county shall sell certificates of

indebtedness issued under this chapter for cash.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.

Sec. 1476.006. MATURITY. A certificate of indebtedness issued

under this chapter must mature not later than 35 years after its

date.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1,

1999.