| Issue Date: | |
|---|---|
| Revised Date: | 2018-07-02 |
Legal Citations
- Education Code sec. 45.055, sec. 45.0571
Object Type
Cash — Education
Origin Date
1983 by S.B. 384, S.J.R. 12, 68th Leg., R.S.
Description
Application for guarantee of eligible school district bonds must be accompanied by fee set by the board in an amount designed to cover the costs of administering the guarantee program.
This code also includes 20% of the savings the charter school district achieves through a lower interest rate due to the bond guarantee by the Permanent School Fund (0044). This is deposited to the Charter District Bond Guarantee Reserve Fund (0053).
Due Date
At time of application. For fund 0053 amounts, on receipt of bond proceeds.
Collecting Agencies
- 701 – Texas Education Agency State Board of Education
Note
S.B. 1, 74th Leg., R.S. repealed Education Code 20.095 and recodified as 45.055.
Fund 0053 remittance added by S.B. 1, 82nd Leg., R.S.
Remitted fund 0053 percentage increased from 10% to 20% by S.B. 1480, 85th Leg., R.S.
USAS Values
| Appropriation Year | 25 |
|---|---|
| USAS Title | SCHOOL BOND GUARANTEE FEES |
| Receipt Category | 11 – Education |
| Receipt Type | 30 – State Service Fees |
| Object Group | 02 – Bond Proceeds |
| USAS Status | A |
| Rev/Exp Category | 01 – LICENSES, FEES, FINES, AND PENALTIES |