Section 501.256 - Approval of Bonds By Economic Development Office(a) A corporation may submit a transcript of proceedings in connection with the issuance of bonds to the economic development office and request that the office approve the bonds. A corporation shall include a nonrefundable filing fee with the request. The office shall set the amount of the fee at a reasonable amount that is not less than $500 or more than $25,000.(b) If the economic development office refuses to approve the bond issue solely on the basis of law, the corporation may seek a writ of mandamus from the Texas Supreme Court, and for this purpose the executive director of the economic development office is considered a state officer under Section 22.002, Government Code.Tex. Loc. Gov't. Code § 501.256
Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.01, eff. 4/1/2009.