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RULE §181.1Definitions

The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise:

  (1) Board--The Bond Review Board, created under Chapter 1078, Acts of the 70th Legislature, Regular Session, 1987 codified as Chapter 1231, Government Code.

  (2) Interest rate management agreement--An agreement that provides for an interest rate transaction, including a swap, basis, forward, option, cap, collar, floor, lock, or hedge transaction, for a transaction similar to those types of transactions, or for a combination of any of those types of transactions. The term includes:

    (A) a master agreement that provides standard terms for transactions;

    (B) an agreement to transfer collateral as security for transactions; and

    (C) a confirmation of transactions.

  (3) State security--

    (A) an obligation, including a bond, issued by:

      (i) a state agency;

      (ii) an entity expressly created by statute and having statewide jurisdiction; or

      (iii) any other entity issuing a bond or other obligation on behalf of the state or on behalf of any entity listed in clause (i) or (ii) of this subparagraph;

    (B) an installment sale or lease-purchase obligation issued by or on behalf of an entity listed in subparagraph (A)(i), (ii), or (iii) of this paragraph that has a stated term of longer than five years or has an initial principal amount of greater than $250,000; or

    (C) an obligation, including a bond, that is issued under Chapter 53, Education Code, at the request of or for the benefit of an institution of higher education other than a public junior college.

  (4) Institution of higher education has the meaning assigned by §61.003, Education Code.

  (5) Business day means a day when the bond finance office is open for business.

  (6) Authorized signature means an original, scanned original, or an electronic signature that is authorized by state law and compliant with any relevant codes, including but not limited to Title 1 Texas Administrative Code §203.23 (relating to Digital Signatures) and Chapter 322 of the Texas Business and Commerce Code (relating to Uniform Electronic Transactions Act), or any other governing rules or codes, as applicable.

Source Note: The provisions of this §181.1 adopted to be effective August 10, 1988, 13 TexReg 3755; amended to be effective February 27, 2002, 27 TexReg 1335; amended to be effective April 9, 2008, 33 TexReg 2828; 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

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