34 Tex. Admin. Code § 10.1 — Definitions

The following phrases, words and terms, when used in this subchapter shall have the following meanings, unless the context clearly indicates otherwise.

# (1)

Affidavit of financial dormancy--The affidavit described by Water Code, §49.197, that may be submitted by a district under §10.5 of this title (relating to Alternative Form of Financial Information for Report; Alternative Reporting Option Available for Certain Types of Districts) when the district has less than $500 in receipts or disbursements during the calendar year, no bonds or long-term liabilities outstanding during the calendar year, and no cash or investments exceeding $5,000 in a calendar year, or when the district is otherwise considered a financially dormant district in accordance with the requirements of Water Code, Chapter 49, Subchapter G.

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Authorized--With respect to a public security, authorized means allowed or directed by a resolution, order, or ordinance that is approved or adopted in a proceeding by the governing body of an issuer in authorizing the issuance of a public security.

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Combined principal and interest required to pay all outstanding debt obligations on time and in full--Total amount borrowed (par) that has yet to be repaid plus the cost of interest.

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Combined principal and interest required to pay all outstanding debt obligations secured by ad valorem taxation on time and in full--Total amount borrowed (par) of all property tax-secured obligations that has yet to be repaid plus the cost of interest.

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Combined principal and interest required to pay all outstanding debt obligations secured by ad valorem taxation on time and in full as a per capita amount--Total debt obligations secured by a pledge of property taxes plus the cost of debt service on these obligations divided by the population of the political subdivision.

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Combined principal and interest required to pay each outstanding debt obligations on time and in full--Total amount borrowed (par) plus the cost of interest for each individual debt obligation or bond series.

# (7)

Current credit rating--Existing rating given by any nationally recognized credit rating organization to debt obligations.

# (8)

Final maturity date--Final payment date of individual debt obligation at which point all principal and interest will be paid off.

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Issuance or issued--The process of authorizing, selling, and delivering public debt.

# (10)

Official stated purpose for which a debt obligation was authorized--The reason for the debt issuance as described in ballot language if applicable or the official statement.

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Outstanding debt obligation--An issued public security that has yet to be repaid.

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Outstanding principal--Total amount borrowed that has yet to be repaid.

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Political subdivision--A county, municipality, school district, junior college district, other special district, or other subdivision of state government subject to the reporting requirements set forth under Local Government Code, §140.008. The term does not include a special purpose district described by Government Code, §403.0241(b).

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Principal issued--The total amount borrowed.

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Proceeds spent--The portion of total proceeds received that have been spent.

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Proceeds unspent--The portion of total proceeds received that are remaining to be spent.

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Secured in any way by ad valorem taxes--Indicates which individual debt obligations are in part or entirely pledged with property taxes.

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Total authorized debt obligations--Debt obligations are defined as public securities which are instruments, including bonds, certificates, notes, or other types of obligations authorized to be issued by an issuer under a statute, a municipal home-rule charter, or the constitution of this state.

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Total authorized debt obligations secured by ad valorem taxation--Total debt obligations secured by a pledge of property taxes.

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Total authorized debt obligations secured by ad valorem taxation expressed as a per capita amount--Total authorized debt obligations secured by a pledge of property taxes divided by the population of the political subdivision.

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Total principal of all outstanding debt obligations--Total amount borrowed (par) of all obligations that have yet to be repaid.

# (22)

Total principal of all outstanding debt obligations secured by ad valorem taxation--Total amount borrowed (par) of obligations secured by a pledge of property taxes that have yet to be repaid.

# (23)

Total principal of outstanding debt obligations secured by ad valorem taxation as a per capita amount--Total amount borrowed (par) secured by a pledge of property taxes divided by the population of the political subdivision.

# (24)

Total proceeds received--Total assets received from the sale of a new issue of public securities.
Source Note: The provisions of this §10.1 adopted to be effective January 3, 2018, 42 TexReg 7718; amended to be effective April 5, 2020, 45 TexReg 2207.