TRAVIS COUNTY HHS: TEFRA Approval (Bond Financing) Request Form

  • Public Facility Corporations (PFC) may issue bonds via Chapter 303.
  • Housing Authorities (PHAs) may issue bonds via Chapter 392.
  • Housing Finance Corporations (HFCs) may issue revenue bonds for affordable housing via Chapter 394.


A Certificate of Governing Body and approval from the Travis County Commissioners Court is required before the Texas Attorney General's Office will approve a request to issue bonds.


Approval by the Travis County Commissioners Court does not create a liability for Travis County. The Health and Human Services Department - Supportive Housing Division will serve a liaison to entities requesting a resolution and certificate of governing body, if all of the prerequisite requirements outlined herein are met.


If approved to be placed on the Court's agenda, the submitter, project sponsor/bond issuer, and developer should plan to be present (virtually or physically) on the date the item goes before the Court for consideration and approval.


Public Facility Corporations (PFCs) (Subchapter C: Bonds) - CHAPTER 303

Sec. 303.071. AUTHORITY TO ISSUE. With the specific approval by resolution of the governing body of its sponsor, a corporation may issue or incur bonds, including refunding bonds, to finance, refinance, or provide one or more public facilities.


Sec. 303.072. SOURCE OF PAYMENT. (a) Bonds of a corporation are payable from revenue derived from public facilities or sponsor obligations. Bonds issued under this chapter are not an obligation or a pledge of the faith and credit of this state, a sponsor or other political subdivision of this state, or an agency of this state.


(b) Each bond must contain on its face a statement that neither the faith and credit nor the taxing power of this state, the sponsor, except to the extent of the sponsor obligations, or another political subdivision of this state is pledged to the payment of the principal of or the interest on the bonds.


Sec. 303.073. TERMS. (a) A bond issued under this chapter must mature not later than 40 years after its date.


(b) Bonds issued under this chapter may be sold in any manner authorized by the corporation and permitted by Chapter 1201, Government Code.


(c) The interest rate on the bonds may be determined by a formula or index or in accordance with a contract or other arrangement for the periodic determination of interest rates.


Housing Authorities (PHAs) - Chapter 392

SUBCHAPTER E. BONDS AND OTHER OBLIGATIONS


Sec. 392.081. AUTHORITY TO ISSUE BONDS. (a) An authority may, by resolution, authorize the issuance of bonds in one or more series for a corporate purpose of the authority.


(b) An authority may issue refunding bonds to repay or retire bonds that the authority previously issued.


(c) An authority may determine the type of bond to issue, including bonds on which the principal and interest are payable:


(1) exclusively from the income and revenues of the housing project financed by the proceeds of the bonds or financed by those proceeds and a federal grant in aid of the project;


(2) exclusively from the income and revenue of designated housing projects regardless of whether the projects are financed by the bonds; or


(3) from general revenue of the housing authority.


(d) Bonds issued by an authority may be additionally secured by a pledge of revenue or by the mortgage of a housing project or other property of the authority. In addition, an authority may make credit agreements in conjunction with the issuance, payment, sale, resale, or exchange of bonds to enhance the security for or provide for the payment, redemption, or remarketing of the bonds and the interest on the bonds. The cost to the authority of the credit agreement may be paid from the proceeds of the sale of the bonds to which the credit agreement relates or from any other source, including revenues of the authority that are available for the purpose of paying the bonds and the interest on the bonds or that may otherwise be legally available to make those payments.


(e) Bonds issued by an authority are not a debt for the purposes of a constitutional or statutory debt limitation or restriction.


Housing Finance Corporations (HFCs) via Chapter 394, may issue revenue bonds or affordable housing development.


Sec. 394.037. BONDS. (a) A housing finance corporation may issue bonds to defray, in whole or in part:


(1) the development costs of a residential development;


(2) the costs of purchasing or funding the making of home mortgages, either on a first-come, first-served basis or by selling lender commitments, including the costs of studies and surveys, insurance premiums, financial advisory services, mortgage banking services, administrative services, underwriting fees, legal services, accounting services, and marketing services incurred in connection with the issuance and sale of the bonds, including bond and interest reserve accounts, capitalized interest accounts, and trustee, custodian, and rating agency fees; or


(3) any other costs associated with the provision of decent, safe, and sanitary housing and non-housing facilities that are an integral part of or are functionally related to an affordable housing project.


(b) The corporation may pledge all or a part of the revenues, receipts, or resources of the corporation, including any revenues or receipts received from residential development or home mortgages, to the prompt payment of bonds authorized under this chapter and to the interest and any redemption premiums on those bonds. It may issue bonds to refund in whole or in part at any time any bonds previously issued under this chapter by the corporation.


(c) The corporation may designate appropriate names for bonds issued under this chapter.


Sec. 394.055. LIABILITY FOR BONDS AND CONTRACTS; DEBT NOT CREATED. (a) Bonds issued under this chapter are limited obligations of the housing finance corporation and are payable solely from the revenue, receipts, and other resources pledged to their payment. A bondholder may not compel the local government to pay the bond, the interest, or any redemption premium.


(b) The local government and this state are not liable in any way regarding bonds issued by the housing finance corporation. An agreement or obligation of the corporation does not constitute, within the meaning of a statutory or constitutional provision, an agreement, obligation, or debt of the state or the local government.


(c) The bonds do not constitute, within the meaning of a statutory or constitutional provision, an indebtedness, an obligation, or a loan of credit of the state, the local government, or any other municipality, county, or other municipal or political corporation or subdivision of the state. The bonds do not create a moral obligation on the part of any of those governmental entities with respect to the payment of the bonds. Those governmental entities may not make payments with respect to the bonds.


(d) The face of each bond must plainly state that it has been issued under this chapter and that it does not constitute, within the meaning of any statutory or constitutional provision, an indebtedness, an obligation, or a loan of credit of the state, the local government, or any other municipality, county, or other municipal or political corporation or subdivision of the state.



Questions? Please email monique.coleman@traviscountytx.gov.

HHS Staff will work to process and place requests on the Court's agenda (if approved by the County Executive) within 30 days of submission.

Is the Travis County HFC or Travis County Corporations involved in the project? If yes, we will reach out to TCC before processing this request to ensure it does not need to go through their office.

Select
Caret IconCaret symbol

Please select the authority being used for bond issuance for this project from the list below:

Select
Caret IconCaret symbol

A draft of all resolutions or authorizing documents shall be submitted with application/request form. The resolutions or authorizing documents shall be in a final draft and shall be prepared for review and revision by the Travis County Attorney's Office.

Travis County Commissioners Court.

Court is held on Tuesdays at 9am.

If all requested documentation is attached, the resolution is properly formatted, and all project summaries are clear and accurate, this will help expedite staff's review.


For requests to place an item on the court's agenda for approval, please note:


  1. Only the HHS County Executive may approve an item to be placed on the court's agenda.
  2. Please discuss court calendar options with the PFC sponsor to confirm the desired court date is available.
  3. Requests must be submitted at least 30 days in advance of desired court date.
  4. The requesting party is responsible for identifying the best court date (Tuesdays are voting session days) for the item.
  5. All materials for the requested agenda item must be attached to this submission form to be considered.
  6. Agenda language including backup, must be provided.
Phone

Please specify the Travis County precinct (1,2,3, or 4).

Select
Caret IconCaret symbol

Provide organization name

Provide organization name

Provide Entity/Developer Name

Affordability:

PFCs - Chapter 303

Rent:

  • 30% of 60% of AMI
  • 30% of 80% of AMI

Income:

  • 40% of units at 80% AMI
  • 10% of units at 60% AMI


PHAs - Chapter 392

  • at least 50% may not earn more than 80% AMI


HFCs - Chapter 394

  • at least 50% may not earn more than 80% AM

Please provide a simple breakdown of bedrooms for the complex. The number should total the "Number of Units" listed above. Please also provide the rent range.

For example (breakdown below only provided to demonstrate the information requested):

30 - 1 bdrms - $696 - $867

60 - 2 bdrms - $870 - $1,001

90 - 3 bdrms - $1,005 - $1,200

Enter a numerical value. If none, enter 0.

Enter a numerical value. If none, enter 0.

Enter a numerical value. If none, enter 0.

This information will be contained within the LURA. Please attach LURA below in the "File Upload" section.

Enter City RONO date. If not applicable, enter N/A

Note: RONOs are required from one or more jurisdictions

Enter County RONO date. If not applicable, enter N/A

Note: RONOs are required from one or more jurisdictions

If yes, please attach public hearing minutes in the File Upload section below.

Select
Caret IconCaret symbol

Indicate below if the publisher's affidavit was received. If yes, please attach it to this submission form in the File Upload section below.

Select
Caret IconCaret symbol
Select
Caret IconCaret symbol

Provide QAP application date only if applicable.

Attach the Bond Review Board's reservation or carryforward letter.

Select
Caret IconCaret symbol

Provide an brief description of mobility options for residents in or around this new development.

Please provide feedback to inform County staff of concerns or issues we should be aware of before we present this information to the Court.

Please note there is a 10 file upload limit per submission. Some files may need to be combined. The following documents, which will become backup for the agenda item shall be provided (uploaded here) before staff will begin to review documentation and develop an agenda item for Court consideration:

  • Short Summary for Agenda Item
  • Resolution of No Objection (RONO) (all applicable to project)
  • Public Hearing Notice
  • Public Hearing Minutes
  • Publisher's Affidavit
  • Texas Bond Review Board (BRB) Letter
  • LURA (land use restrictive agreement)
  • Draft of Certificate of Governing Body (if applicable)
  • Draft of Resolution(s) - Approval of Tax-Exempt Bond Financing
Drag and drop files here or
Powered by Smartsheet Modern Logo On Light
Privacy Notice|Report Abuse