34 Tex. Admin. Code § 181.2 - Notice of Intention to Issue
(a) Unless
exempt pursuant to statute or pursuant to §
181.9 of this title (relating to
State Exemptions), an issuer intending to issue state securities shall submit
an electronic non-exempt notice of intention to issue to the bond finance
office no later than twelve business days prior to the regularly scheduled
planning session. Prospective issuers are encouraged to file the notice of
intention as early in the issuance planning stage as possible. A notice of
intention under this subsection is not required prior to each new issuance of
commercial paper if the issuer's commercial paper is exempt pursuant to statute
or if the issuer's commercial paper program has been approved by the Board or
if it is exempt from approval pursuant to the provisions of §
181.9 of this title. Except as
required for Board approval pursuant to §
181.3(f) of this
title (relating to Application for Board Approval of State Securities
Issuance), a notice of intention under this subsection is not required prior to
each new issuance of commercial paper notes if the notes are issued in
conformity with the terms of the commercial paper program that has been
approved by the Board or is exempt from approval pursuant to the provisions of
§
181.9 of this title.
(b) A notice of intention to issue under
subsection (a) of this section shall include:
(1) a brief description of the proposed
issuance, including, but not limited to, the purpose, the tentative amount,
proposed security, type of interest and any related credit
agreements;
(2) the proposed timing
of the issuance with a tentative date of sale and a tentative date for closing,
or if the state securities are to be issued in the form of commercial paper
notes, the period over which the state securities will be issued for projects
to be financed;
(3) a request to
have the issue of state securities scheduled for consideration by the Board
during a specified bi-monthly meeting; and
(4) an agreement to submit the required
application described in §
181.3 of this title no later than
ten business days prior to the regularly scheduled planning
session.
(c) An issuer
may reschedule the date requested for Board consideration of the state
securities by submitting an amended notice of intention at any time prior to
the application date in the same manner as provided in this section.
(d) The requested date for Board
consideration shall be granted whenever possible. If at the Board's discretion,
it becomes necessary to change the date of the Board meeting for consideration
of the proposed issuance of state securities, notice of such change shall be
sent to the issuer as soon as possible.
(e) An issuer intending to issue state
securities that are exempt from approval pursuant to §
181.9 of this title shall submit
during regular business hours an electronic exempt issuer state debt notice of
intent, with an authorized signature, to the bond finance office as required by
§
181.9(c) of this
title. Prospective issuers are encouraged to file the notice of intent as early
in the issuance planning stage as possible considering the Board has six
business days to review the complete application pursuant to §
181.9(d) of this
title. Submitting an exempt issuer state debt notice of intent under this
subsection does not guarantee the Board will take action. An electronic exempt
issuer state debt notice of intent under this subsection is not required prior
to each new issuance of commercial paper notes if the notes are issued in
conformity with the terms of the commercial paper program for which an
electronic exempt issuer state debt notice of intent has been filed with the
bond finance office or that has been approved by the Board pursuant to §
181.9(d) of this
title.
(1) To be considered at the next
regularly scheduled planning session, if required by the Board pursuant to
§
181.9(d) of this
title, the exempt issuer state debt notice of intent must be submitted to the
bond finance office no later than ten business days prior to the regularly
scheduled planning session.
(2)
Exempt issuers pursuant to §
181.9 of this title are required
to submit an exempt issuer state debt notice of intent which must contain, but
is not limited to:
(A) a completed exempt
issuer state debt notice of intent in the form required by the bond finance
office. A notice of intent is not required under this subsection for an
issuance of commercial paper notes if the notes are issued in conformity with
the terms of the commercial paper program for which a notice of intent has been
filed with the bond finance office or that has been approved by the
Board;
(B) proposed debt service
schedule;
(C) proposed cash flow
schedule, if applicable;
(D)
proposed sources and uses statement;
(E) timetable of the financing;
(F) derivatives program summary in the form
required by the bond finance office, if applicable;
(G) documentation that all necessary
approvals of the issuance of the state securities or the project to be financed
with the proceeds of the state securities have been obtained from the
appropriate state boards or state agencies except:
(i) the approval of the state securities by
the Attorney General;
(ii)
environmental approvals and permits;
(H) Board memorandum for the proposed
transaction prepared for issuer's governing board; and
(I) Issuer Board resolution(s) authorizing
the issuance of bonds or other obligations, adopted no earlier than one year
prior to the date the exempt issuer state debt notice of intent is submitted to
the bond finance office.
Notes
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