Texas Education Code 45.252 – Intercept Credit Enhancement Program
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(a) If a school district’s application for guarantee of district bonds by the corpus and income of the permanent school fund as provided by Subchapter C is rejected, the district may apply under this subchapter for credit enhancement of bonds described by § 45.054 by money appropriated for the Foundation School Program, other than money that is appropriated to school districts specifically:
(1) as required under the Texas Constitution; or
(2) for assistance in paying debt service.
(b) The same school district bonds may not benefit under both Subchapter C and this subchapter.
Terms Used In Texas Education Code 45.252
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
(c) Notwithstanding any amendment of this subchapter or other law, the credit enhancement provided under this subchapter for school district bonds remains in effect until the date those bonds mature or are defeased in accordance with state law.