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TITLE 1 - ADMINISTRATION
PART 3 - OFFICE OF THE ATTORNEY GENERAL
CHAPTER 53 - MUNICIPAL SECURITIES
SUBCHAPTER A - APPROVAL OF MUNICIPAL SECURITIES BY ATTORNEY GENERAL
SECTION/RULE §53.6 - Satisfaction of Coverage
Chapter Review Date 10/26/2020

The maximum annual debt service reflected in the debt retirement schedule may not exceed:(1) for proposed public securities supported in whole or in part by ad valorem taxes, the product of the bond allowable rate, the applicable collection rate, and the issuer's most recent certified taxable assessed valuation; and/or(2) for proposed public securities supported by revenues, the issuer's certified historical or projected revenue collection amount, as applicable.

Source Note: The provisions of this §53.6 adopted to be effective January 5, 2017, 41 TexReg 10543.

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