Texas § 303.003 DEFINITIONS.

Texas Statutes

§ 303.003 — DEFINITIONS.

Texas § 303.003

Code LGLocal Government Code

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Bluebook

Tex. Local Government Code Code Ann. § 303.003 (2026).

Text

Sec. 303.003. DEFINITIONS. In this chapter:

(1)"Board of directors" means the board of directors of a corporation.

(2)"Bonds" includes notes, interim certificates, or other evidences of indebtedness of a corporation issued or incurred under this chapter.

(3)"Corporation" means a public facility corporation created and existing under this chapter.

(4)"Credit agreement" means a loan agreement, revolving credit agreement, agreement establishing a line of credit, letter of credit, reimbursement agreement, insurance contract, commitment to purchase bonds or sponsor obligations, purchase or sale agreement, interest rate or commodities price swap agreement, cap or collar agreement, protection or management agreement, or commitment or other contract or agreement authorized and approved by the

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Sec. 303.003. DEFINITIONS. In this chapter:
(1) "Board of directors" means the board of directors of a corporation.
(2) "Bonds" includes notes, interim certificates, or other evidences of indebtedness of a corporation issued or incurred under this chapter.
(3) "Corporation" means a public facility corporation created and existing under this chapter.
(4) "Credit agreement" means a loan agreement, revolving credit agreement, agreement establishing a line of credit, letter of credit, reimbursement agreement, insurance contract, commitment to purchase bonds or sponsor obligations, purchase or sale agreement, interest rate or commodities price swap agreement, cap or collar agreement, protection or management agreement, or commitment or other contract or agreement authorized and approved by the board of directors of a corporation in anticipation of, related to, or in connection with the authorization, issuance, incurrence, sale, security, exchange, payment, purchase, remarketing, or redemption of bonds or interest on bonds.
(5) "Director" means a member of a board of directors.
(6) "Housing authority" means a public corporation created under Chapter 392 .
(7) "Public facility" means any real, personal, or mixed property, or an interest in property devoted or to be devoted to public use, and authorized to be financed, refinanced, or provided by sponsor obligations or bonds issued under this chapter.
(8) "Resolution" means a resolution, order, ordinance, or other official action by the governing body of a sponsor.
(9) "School district" means a political subdivision created under Section 3 , Article VII, Texas Constitution.
(10) "Special district" means:
(A) a district created under Section 52 , Article III, or Section 59 , Article XVI, Texas Constitution;
(B) a hospital district or authority; or
(C) a junior college district authorized by Chapter 130 , Education Code.
(11) "Sponsor" means a municipality, county, school district, housing authority, or special district that causes a corporation to be created to act in accordance with this chapter.
(12) "Sponsor obligation" means an evidence of indebtedness or obligation that a sponsor issues or incurs to finance, refinance, or provide a public facility, including bonds, notes, warrants, certificates of obligation, leases, and contracts authorized by Section 303.041 and Subchapter C.

Legislative History

Added by Acts 1999, 76th Leg., ch. 227, Sec. 11, eff. Sept. 1, 1999. Amended by: Acts 2015, 84th Leg., R.S., Ch. 488 (H.B. 2679 ), Sec. 1, eff. June 16, 2015. Acts 2015, 84th Leg., R.S., Ch. 488 (H.B. 2679 ), Sec. 2, eff. June 16, 2015.