Texas HB53 amends local government issuance of anticipation notes and certificates of obligation.

Texas HB53 modifies the issuance of anticipation notes and certificates of obligation by local governments. It redefines "eligible countywide district" to include flood control districts coterminous with certain counties. The bill amends definitions of "issuer" and "public work," and repeals Section 271.046 of the Local Government Code. It sets conditions for certificate issuance, including voter petition requirements and interest rate caps. The changes apply to notes and certificates issued after the bill's effective date.

Texas HB53 amends local government issuance of anticipation notes and certificates of obligation.

Texas HB53 modifies the issuance of anticipation notes and certificates of obligation by local governments. It redefines "eligible countywide district" to include flood control districts coterminous with certain counties. The bill amends definitions of "issuer" and "public work," and repeals Section 271.046 of the Local Government Code. It sets conditions for certificate issuance, including voter petition requirements and interest rate caps. The changes apply to notes and certificates issued after the bill's effective date.