Texas Register, Volume 42, Number 43, Pages 5913-6056, October 27, 2017 Page: 6,017
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funds remaining to be paid to the charter district for the year are less
than the amount due to the reserve fund for that year, the commissioner
will recover the difference as authorized under the TEC, 42.258.
(6) The commissioner will provide a charter district with a
statement of the total and annual amounts due under this section within
60 days of the date that the bonds approved for the guarantee under
33.67 of this title are sold. The commissioner will calculate savings
for refunding issues, and the refunding portion of combination issues,
using the principal amount that is being refunded.
(7) No payment is due on an anniversary date on which
no principal amount is outstanding. The total amount due under this
section is the sum of all annual payments due.
(c) The following provisions apply to charter district bonds
guaranteed under 33.67 of this title that receive final approval from
the commissioner in the form of the permanent school fund certificate
on or after September 1, 2017, provided that such payments shall only
be required until the Charter District Bond Guarantee Reserve Fund
reaches the limit established under the TEC, 45.0571.
(1) A charter district that has bonds guaranteed under
33.67 of this title must remit to the commissioner a payment for
deposit in the Charter District Bond Guarantee Reserve Fund estab-
lished under the TEC, 45.0571, as described in paragraph (3) of this
subsection.
(2) To calculate the payment required under paragraph (3)
of this subsection, the commissioner will calculate an amount equal to
20% of the savings over the life of the bond to the charter district re-
sulting from the lower interest rate on the bond due to the guarantee by
the permanent school fund. The calculation will be based on subsec-
tion (b)(3) of this section, but the formula in subsection (b)(3)(A) of
this section will read R = (P x S x 0.2) + (1 + PV)T
(A) "PV" is the present value discount factor, which is
the yield to worst of the Bloomberg Barclays US Aggregate 3-5 Year
Bond Index on the last business day of the previous month. If the
Bloomberg Barclays US Aggregate 3-5 Year Bond Index is discon-
tinued, the commissioner shall choose another data source for a rea-
sonable period of time until this section can be amended with another
acceptable data source.
(B) "T" is the number of years from the anniversary of
the closing date of the bond.
(C) The payment is equal to the sum of the amount re-
quired under subsection (b)(4) of this section and the present value of
the amounts required for each year of the bond under subsection (b)(5)
of this section.
(3) The payment due under this section is due within 30
days of the closing date.
(4) The charter district will estimate the amount due prior
to pricing the bonds. The commissioner will provide a charter district
with a statement of the amount due under this section after the bonds
approved for the guarantee under 33.67 of this title are sold but be-
fore they close. The commissioner will calculate savings for refunding
issues, and the refunding portion of combination issues, using the prin-
cipal amount that is being refunded.
The agency certifies that legal counsel has reviewed the adop-
tion and found it to be a valid exercise of the agency's legal au-
thority.
Filed with the Office of the Secretary of State on October 9, 2017.
TRD-201704066Cristina De La Fuente-Valadez
Director, Rulemaking
Texas Education Agency
Effective date: October 29, 2017
Proposal publication date: August 25, 2017
For further information, please call: (512) 475-1497
TITLE 22. EXAMINING BOARDS
PART 17. TEXAS STATE BOARD OF
PLUMBING EXAMINERS
CHAPTER 367. ENFORCEMENT
22 TAC 367.10
The Texas State Board of Plumbing Examiners (Board) adopts
amendments to 22 TAC 367.10. The amendments are adopted
without changes to the proposed text as published in the July 28,
2017, issue of the Texas Register (42 TexReg 3733) and will not
be republished.
The amendments to 367.10 modify the Board's procedures for
imposing an administrative penalty and are adopted to imple-
ment SB 2065 (85th Regular Legislative Session). New subsec-
tions (c) and (d) are added to allow the Enforcement Committee
to present to the Board a motion for default order along with a
proposed Default Order containing findings of fact and conclu-
sions of law when a Respondent fails to respond to the Notice
of Alleged Violation. All subsequent subsections are re-lettered
accordingly. The amendments also allow the Board to grant the
relief recommended in the proposed Default Order, or such other
relief as may be justified by the evidence presented by the En-
forcement Committee. The existing provision that requires the
Enforcement Committee to set a formal hearing at the State Of-
fice of Administrative Hearings if, within twenty days of receipt,
a respondent fails to respond to the Notice of Alleged Violation
is deleted.
No comments were received regarding the adoption of these
amendments.
The amendments are adopted under section 1301.251 of the
Texas Occupations Code, which requires the Board to adopt and
enforce rules necessary to administer and enforce the chapter
and SB 2065, which grants the Board the authority to adopt a
Default Final Order when a respondent fails to respond to the
Notice of Alleged Violation and accept the recommended admin-
istrative penalty or request a hearing on the alleged violation.
The agency certifies that legal counsel has reviewed the adop-
tion and found it to be a valid exercise of the agency's legal au-
thority.
Filed with the Office of the Secretary of State on October 10,
2017.
TRD-201704078
Lisa Hill
Executive Director
Texas State Board of Plumbing Examiners
Effective date: October 30, 2017
Proposal publication date: July 28, 2017
For further information, please call: (512) 936-5202ADOPTED RULES October 27, 2017 42 TexReg 6017
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Texas. Secretary of State. Texas Register, Volume 42, Number 43, Pages 5913-6056, October 27, 2017, periodical, October 27, 2017; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth897027/m1/105/?q=%22%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.