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TITLE 1ADMINISTRATION
PART 3OFFICE OF THE ATTORNEY GENERAL
CHAPTER 53MUNICIPAL SECURITIES
SUBCHAPTER NHEALTH FACILITIES DEVELOPMENT CORPORATION BONDS
RULE §53.214Documentation of Corporation

The following shall constitute documentation of the corporation:

  (1) undated general certificate of the corporation, executed by at least two officers of the corporation, including certifications and provisions (or confirmation of any such certifications and provisions which are contained in the basic financing documents) with respect to:

    (A) incumbency of the officers and directors;

    (B) due incorporation, valid existence, and good standing;

    (C) official seal;

    (D) appointment of authorized representative, if any;

    (E) signature identifications;

    (F) no-litigation pending or threatened against the corporation with respect to the issuance of the bonds, or the title or authority of the officers and directors of the corporation;

    (G) the bond documents submitted were properly executed by the corporation, have not been amended or rescinded, and due performance thereof has been authorized by the corporation;

    (H) the terms and performance of the bond documents by the corporation are not in conflict with the articles of incorporation or bylaws of the corporation or any other instrument or restriction to which the corporation is a party or subject to; and

    (I) incorporated as exhibits, as applicable (or may be included as separate documents if certified as to accuracy):

      (i) a copy of the corporation's articles of incorporation as certified by the secretary of state of Texas and bylaws, or, alternatively, a certification that there have been no amendments to the corporation's articles of incorporation or bylaws since the last submission of bonds or copies of any amendments;

      (ii) copy of certificate of continued existence from the secretary of state of Texas and copy of certificate of good standing from the comptroller of public accounts of Texas, both dated within 60 days of transcript submission;

  (2) resolution designating management committee(s), if any;

  (3) resolution authorizing issuance of the bonds, including the following provisions:

    (A) title of bonds;

    (B) legal citation for authority to issue bonds;

    (C) specific purpose for which the bonds are issued;

    (D) identification of the user; and

    (E) total principal amount of bonds to be issued.


Source Note: The provisions of this §53.214 adopted to be effective November 14, 1990, 15 TexReg 6289.

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