Texas Administrative Code
|PART 3||OFFICE OF THE ATTORNEY GENERAL|
|CHAPTER 53||MUNICIPAL SECURITIES|
|SUBCHAPTER A||APPROVAL OF MUNICIPAL SECURITIES BY ATTORNEY GENERAL|
|RULE §53.8||Appropriated Funds and Capitalized Interest|
When an issuer must pay debt service on a proposed ad valorem tax public security or combination ad valorem tax and revenue public security before the initial tax levy can be collected, the issuer must provide certification that the issuer has appropriated lawfully available funds for such payment.
|Source Note: The provisions of this §53.8 adopted to be effective January 5, 2017, 41 TexReg 10543|