In this chapter:

1. (1) "Board" means the Bond Review Board.

2. (1-a) "Interest rate management agreement" means an agreement that provides for an interest rate transaction, including a swap, basis, forward, option, cap, collar, floor, lock, or hedge transaction, for a transaction similar to those types of transactions, or for a combination of any of those types of transactions. The term includes:

   1. (A) a master agreement that provides standard terms for transactions;
   2. (B) an agreement to transfer collateral as security for transactions; and
   3. (C) a confirmation of transactions.

3. (2) "State security" means:

   1. (A) an obligation, including a bond, issued by:

      1. (i) a state agency;
      2. (ii) an entity that is expressly created by statute and has statewide jurisdiction; or
      3. (iii) an entity issuing the obligation on behalf of this state or on behalf of an entity described by Subparagraph (i) or (ii);

   2. (B) an installment sale or lease-purchase obligation that is issued by or on behalf of an entity described by Paragraph (A) and that has:

      1. (i) a stated term of more than five years; or
      2. (ii) an initial principal amount of more than $250,000; or
   3. (C) an obligation, including a bond, that is issued under Chapter 53, Education Code, at the request of or for the benefit of an institution of higher education other than a public junior college.
4. (3) "Institution of higher education" has the meaning assigned by Section 61.003, Education Code.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Acts 2007, 80th Leg., R.S., Ch. 991 (S.B. 1332), Sec. 2, eff. September 1, 2007.

Acts 2007, 80th Leg., R.S., Ch. 991 (S.B. 1332), Sec. 3, eff. September 1, 2007.

Acts 2011, 82nd Leg., R.S., Ch. 1049 (S.B. 5), Sec. 1.05, eff. June 17, 2011.