| (a) Unless exempt pursuant to statute or pursuant to §181.9
of this title (relating to State Exemptions), an issuer intending
to issue state securities shall submit an electronic non-exempt notice
of intention to issue to the bond finance office no later than twelve
business days prior to the regularly scheduled planning session. Prospective
issuers are encouraged to file the notice of intention as early in
the issuance planning stage as possible. A notice of intention under
this subsection is not required prior to each new issuance of commercial
paper if the issuer's commercial paper is exempt pursuant to statute
or if the issuer's commercial paper program has been approved by the
Board or if it is exempt from approval pursuant to the provisions
of §181.9 of this title. Except as required for Board approval
pursuant to §181.3(f) of this title (relating to Application
for Board Approval of State Securities Issuance), a notice of intention
under this subsection is not required prior to each new issuance of
commercial paper notes if the notes are issued in conformity with
the terms of the commercial paper program that has been approved by
the Board or is exempt from approval pursuant to the provisions of §181.9
of this title.
(b) A notice of intention to issue under subsection
(a) of this section shall include:
(1) a brief description of the proposed issuance, including,
but not limited to, the purpose, the tentative amount, proposed security,
type of interest and any related credit agreements;
(2) the proposed timing of the issuance with a tentative
date of sale and a tentative date for closing, or if the state securities
are to be issued in the form of commercial paper notes, the period
over which the state securities will be issued for projects to be
financed;
(3) a request to have the issue of state securities
scheduled for consideration by the Board during a specified bi-monthly
meeting; and
(4) an agreement to submit the required application
described in §181.3 of this title no later than ten business
days prior to the regularly scheduled planning session.
(c) An issuer may reschedule the date requested for
Board consideration of the state securities by submitting an amended
notice of intention at any time prior to the application date in the
same manner as provided in this section.
(d) The requested date for Board consideration shall
be granted whenever possible. If at the Board's discretion, it becomes
necessary to change the date of the Board meeting for consideration
of the proposed issuance of state securities, notice of such change
shall be sent to the issuer as soon as possible.
(e) An issuer intending to issue state securities that
are exempt from approval pursuant to §181.9 of this title shall
submit during regular business hours an electronic exempt issuer state
debt notice of intent, with an authorized signature, to the bond finance
office as required by §181.9(c) of this title. Prospective issuers
are encouraged to file the notice of intent as early in the issuance
planning stage as possible considering the Board has six business
days to review the complete application pursuant to §181.9(d)
of this title. Submitting an exempt issuer state debt notice of intent
under this subsection does not guarantee the Board will take action.
An electronic exempt issuer state debt notice of intent under this
subsection is not required prior to each new issuance of commercial
paper notes if the notes are issued in conformity with the terms of
the commercial paper program for which an electronic exempt issuer
state debt notice of intent has been filed with the bond finance office
or that has been approved by the Board pursuant to §181.9(d)
of this title.
(1) To be considered at the next regularly scheduled
planning session, if required by the Board pursuant to §181.9(d)
of this title, the exempt issuer state debt notice of intent must
be submitted to the bond finance office no later than ten business
days prior to the regularly scheduled planning session.
(2) Exempt issuers pursuant to §181.9 of this
title are required to submit an exempt issuer state debt notice of
intent which must contain, but is not limited to:
(A) a completed exempt issuer state debt notice of
intent in the form required by the bond finance office. A notice of
intent is not required under this subsection for an issuance of commercial
paper notes if the notes are issued in conformity with the terms of
the commercial paper program for which a notice of intent has been
filed with the bond finance office or that has been approved by the
Board;
(B) proposed debt service schedule;
(C) proposed cash flow schedule, if applicable;
(D) proposed sources and uses statement;
(E) timetable of the financing;
(F) derivatives program summary in the form required
by the bond finance office, if applicable;
(G) documentation that all necessary approvals of the
issuance of the state securities or the project to be financed with
the proceeds of the state securities have been obtained from the appropriate
state boards or state agencies except:
(i) the approval of the state securities by the Attorney
General;
(ii) environmental approvals and permits;
(H) Board memorandum for the proposed transaction prepared
for issuer's governing board; and
(I) Issuer Board resolution(s) authorizing the issuance
of bonds or other obligations, adopted no earlier than one year prior
to the date the exempt issuer state debt notice of intent is submitted
to the bond finance office.
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| Source Note: The provisions of this §181.2 adopted to be effective August 10, 1988, 13 TexReg 3755; amended to be effective October 11, 1994, 19 TexReg 7711; amended to be effective February 27, 2002, 27 TexReg 1335; amended to be effective September 18, 2003, 28 TexReg 8133; amended to be effective April 9, 2008, 33 TexReg 2828; amended to be effective August 6, 2008, 33 TexReg 6146; amended to be effective December 28, 2008, 33 TexReg 10331; amended to be effective February 8, 2012, 37 TexReg 501; amended to be effective December 2, 2019, 44 TexReg 7398; amended to be effective October 13, 2021, 46 TexReg 6946 |
