Texas § ED.45.056 - INVESTIGATION
Full text of Texas The Texas Constitution § ED.45.056 — INVESTIGATION, with citation guidance and answers to common questions.
§ ED.45.056. INVESTIGATION
INVESTIGATION. (a) Following receipt of an application for the guarantee of bonds, the commissioner shall conduct an investigation of the applicant school district or charter district in regard to: (1) the status of the district's accreditation; and (2) the total amount of outstanding guaranteed bonds. (a-1) For purposes of this subsection, "bond security documents" include the resolution, trust agreement, indenture, ordinance, loan agreement, deed of trust, bond, note, and any additional document executed in connection with the issuance of a charter district bond for which a guarantee is requested under this subchapter. The commissioner's investigation of an application submitted by a charter district may include evaluation of whether the charter district bond security documents provide a security interest in real property pledged as collateral for the bond and the repayment obligation under the proposed guarantee. The commissioner may decline to approve the application if the commissioner determines that sufficient security is not provided. (b) If following the investigation the commissioner is satisfied that the school district's bonds should be guaranteed under this subchapter or provided credit enhancement under Subchapter I, as applicable, or the charter district's bonds should be guaranteed under this subchapter, the commissioner shall endorse the bonds. Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995. Amended by: Acts 2009, 81st Leg., R.S., Ch. 1328 (H.B. 3646 ), Sec. 71, eff. September 1, 2009. Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1 ), Sec. 59.08, eff. September 28, 2011. Acts 2017, 85th Leg., R.S., Ch. 402 (S.B. 1480 ), Sec. 3, eff. September 1, 2017.
Frequently Asked Questions About Texas § ED.45.056
What does The Texas Constitution § ED.45.056 cover?
Section ED.45.056 ("INVESTIGATION") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § ED.45.056?
A common citation format is "The Texas Constitution § ED.45.056" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § ED.45.056 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.