PART 9. TEXAS BOND REVIEW BOARD
CHAPTER 181. BOND REVIEW BOARD
SUBCHAPTER A. BOND REVIEW RULES
The Texas Bond Review Board (BRB) adopts the repeal of §181.11, concerning Filing of Requests for Proposal, without changes to the proposal as published in the December 19, 2008, issue of the Texas Register (33 TexReg 10298).
The purpose of the repeal is to comply with current statute and clarify existing Bond Review Board processes. The rule is now superseded by Section 1 of Senate Bill 1332 passed in the 80th Legislature that amends §1201.027 of the Texas Government Code by adding subsection (d) that requires an issuer of state securities that selects or contracts with a person to provide services to submit, on request, request for proposals to the BRB to provide the services. Pursuant to this statute, the Bond Finance Office has requested that all issuers provide such request for proposals, and the BRB has already received three requests for proposals for its review. Section 181.11 has become obsolete and is no longer needed.
The 30-day comment period ended January 18, 2009, and BRB did not receive any comments on the proposed repeal. No public hearing was requested under Texas Government Code §2001.029.
The repeal is adopted under Texas Government Code §1231.022, which gives BRB the authority to adopt rules governing application for review, the review process, and reporting requirements involved in the issuance of state securities.
This agency hereby certifies that the adoption has been reviewed by legal counsel and found to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on February 13, 2009.
TRD-200900605
Bob Kline
Executive Director
Texas Bond Review Board
Effective date: March 5, 2009
Proposal publication date: December 19, 2008
For further information, please call: (512) 475-4800