Texas Government Code 404.027 – Liquidity
Current as of: 2024 | Check for updates
|
Other versions
(a) The comptroller may enter into credit agreements or other similar agreements to provide liquidity for obligations issued for governmental purposes by an agency of the state if the agreements do not conflict with the liquidity needs of the treasury. An agency may enter into a credit agreement with the comptroller on the issuance of obligations or at a later date as agreed to by the comptroller and the agency.
(b) The comptroller may charge reasonable costs to provide services under this section.
Terms Used In Texas Government Code 404.027
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
(c) In this section:
(1) “Credit agreement” has the meaning assigned by § 1371.001.
(2) “Obligations” include commercial paper, variable rate demand obligations, and “public securities” as defined by § 1201.002.