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RULE §181.4Meetings

(a) The regular meeting of the Board shall be held the Thursday following the third Tuesday of alternate months beginning in January.

(b) The Chair may call additional meetings of the Board and is responsible for filing notice of meetings as required by Chapter 551, Government Code, and giving timely notice of meetings to members of the Board. On the petition of two or more members of the Board, the Chair shall call an additional meeting of the Board or cancel a meeting.

(c) A planning session will be held regarding applications pending before the Board on or before the second Tuesday of alternate months beginning in January. Planning sessions regarding applications to be heard at additional meetings of the Board will be held as far in advance of the additional Board meeting as is practicable, and applications to be considered at additional meetings of the Board will need to be submitted to the bond finance office pursuant to §181.3(a) no later than ten business days in advance of the planning session scheduled for the additional Board meeting.

  (1) At a planning session, Board members, their designated representatives, or their staff representatives may discuss pending applications.

  (2) Applicants may be required to attend a planning session and may be asked to make a presentation and answer questions regarding their application. Applicants may be asked to submit written answers to questions regarding their application in lieu of, or in addition to, their attendance at a planning session.

(d) At a meeting of the Board, the Board may allow an applicant to make an oral presentation to the Board.

(e) At a meeting, the Board may, by order, resolution, or other process adopted by the Board, approve an issuance of state securities as proposed in a completed application; may approve an issuance of state securities on conditions stated by the Board for either a completed or incomplete application; or may fail to act on a proposed issuance of state securities; and may approve tuition revenue projects for financing.

(f) At a planning session or meeting, the Board may discuss state securities under the state exemption process without such security being required to follow the formal approval process under §181.9(d) of this title.

(g) If the Board does not act on a proposed issuance during the meeting at which the application is scheduled to be considered, the application is no longer valid on the occurrence of the earlier of the expiration of 45 days from the date of the meeting at which the application was scheduled to be considered or immediately following the Board's next meeting, if the Board fails to act on the proposed issuance at that meeting. If an application becomes invalid under this subsection, the applicant may file a new application for the proposed issuance.

(h) The Executive Director shall notify applicants in writing of any action taken regarding their application. A letter of approval shall contain the terms and conditions of the issue as approved by the Board. Board approval for the issuance of bonds or other obligations shall be valid for one year from the date of approval, unless expressly stated otherwise in the approval. A copy of the approval letter shall be forwarded to the Office of the Attorney General. Issuers must inform the Executive Director of any material changes to their application. Such changes may prompt reconsideration of an application approval by the Bond Review Board and require the application to come before the Board prior to issuance.

(i) If applicable law requires the approval by the Attorney General of an issuance of state securities that are not exempt from review by the Board, Attorney General approval must be obtained after approval by the Board.

(j) If there is a dispute among members regarding the conduct of Board meetings, standard parliamentary rules shall apply.

Source Note: The provisions of this §181.4 adopted to be effective August 10, 1988, 13 TexReg 3755; amended to be effective June 26, 1989, 14 TexReg 2901; amended to be effective September 26, 1990, 15 TexReg 5362; 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 December 2, 2019, 44 TexReg 7398

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