Texas Water Code 15.206 – Application for Insurance
(a) An issuer may apply in writing to the board for the insurance of its bonds.
(b) The application must include the following information:
(1) the name of the issuer;
(2) citations of the laws under which the issuer is created and operates and under which the bonds to be insured are to be issued;
(3) the total amount of bonds for which insurance coverage is sought and the anticipated interest rate on the bonds;
(4) the term for which the bonds are to be issued;
(5) the purpose or purposes for which the bonds are to be issued;
(6) financial information relating to the issuance of the bonds and to the financial stability and future of the issuer;
(7) the water conservation plan required by § 16.4021; and
(8) any other information the board requires by its rules or otherwise considers necessary in making a determination of the application.
Terms Used In Texas Water Code 15.206
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Rule: includes regulation. See Texas Government Code 311.005
(c) The board by rule shall prescribe the form and procedure for submitting and processing an application.