Texas § 1371.061 MANAGEMENT REPORTS.

Texas Statutes

§ 1371.061 — MANAGEMENT REPORTS.

Texas § 1371.061

Code GVGovernment Code

This text of Texas § 1371.061 (MANAGEMENT REPORTS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 1371.061 (2026).

Text

Sec. 1371.061. MANAGEMENT REPORTS.

(a)If a governing body authorizes an interest rate management agreement transaction, the governing body shall designate an officer of the issuer to monitor and report on the transaction. At least annually, the designated officer shall present to the governing body a written report, signed by the designated officer, on all outstanding interest rate management agreement transactions conducted for the issuer. The report must:

(1)describe the terms of the transactions;

(2)contain a statement:

(A)of the fair value of each transaction;

(B)of the value of any collateral posted to or by the issuer under the transactions with each counterparty at the year's end; and

(C)reviewing the transactions' cash flows;

(3)identify with respect to each transaction the

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Sec. 1371.061. MANAGEMENT REPORTS. (a) If a governing body authorizes an interest rate management agreement transaction, the governing body shall designate an officer of the issuer to monitor and report on the transaction. At least annually, the designated officer shall present to the governing body a written report, signed by the designated officer, on all outstanding interest rate management agreement transactions conducted for the issuer. The report must:
(1) describe the terms of the transactions;
(2) contain a statement:
(A) of the fair value of each transaction;
(B) of the value of any collateral posted to or by the issuer under the transactions with each counterparty at the year's end; and
(C) reviewing the transactions' cash flows;
(3) identify with respect to each transaction the counterparty, any guarantor of the counterparty's obligations under the transaction, and the credit ratings of the counterparty and the guarantor; and
(4) state whether the continuation of the transactions under the agreement would comply with the issuer's interest rate management agreement policy.
(b) This section does not apply to an issuer that has entered into:
(1) at least three interest rate management agreement transactions before November 1, 2006; or
(2) one or more interest rate management agreement transactions with notional amounts totaling at least $400 million before November 1, 2006.
SUBCHAPTER C. FINANCIAL ASPECTS OF OBLIGATION