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House Bill 885 |
House Author: Murphy et al. |
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Effective: 9-1-13 |
Senate Sponsor: Patrick |
House Bill 885 amends the Education Code to include refunding and refinanced bonds among the types of bonds issued under the Higher Education Facility Authority for Public Schools Act for which a charter district may apply and that are to be guaranteed by the permanent school fund; to include refinanced bonds among the types of bonds guaranteed by the corpus and income of the permanent school fund on approval by the commissioner of education; and to cap the total amount of charter district refunding or refinanced bonds that the commissioner may approve for guarantee at one-half of the total amount available for the guarantee of all charter district bonds.