11/07/10

School district face a tight turnaround time for meeting the December 31, 2010 deadline for filing applications prior to the expiration of the authorization for Build America Bonds following voter approval of bond referendum(s) in the November bond elections.  Under Texas Education Agency rules, all applications for Bond Guarantee Program received during a calendar month are held until the fifteenth business day of the subsequent month. 

To help accommodate the needs of districts and because of the extenuating circumstance of the expiring federal legislation, for the November 2010 round of the Bond Guarantee Program only, we are offering districts an opportunity to request a waiver of our existing rules. Districts may choose to request one of two waivers.

1.    Districts may request that the Texas Education Agency (TEA) consider a bond guarantee application received by close of business on November 3, 2010, to have been received in October and be processed as an October application, with approval letters issued November 22, 2010, or

2.    Districts may request that, for applications received in November, the TEA move the date that approval letters are issued from December 21, 2010, to Friday, December 17, 2010. Please note that this change in the date of approval letter issuance will also change the expiration date of the approvals. Districts that receive approval on December 17, 2010, must have Attorney General approval of their bonds within 180 days of that date, which will be June 15, 2011.

A waiver application is available at http://ritter.tea.state.tx.us/waivers/CDD-106R11.pdf. The rule to request to be waived is 19 Texas Administrative Code §33.65, Bond Guarantee Program.

Please contact Cassie Huggins at  This e-mail address is being protected from spambots. You need JavaScript enabled to view it  or 512-463-9232 if you have any additional questions.