1. (a) In order to comply with §10.2 of this title (relating to Annual Local Debt Report), on an annual basis, and within 180 days of the end of the most recently completed fiscal year, a political subdivision shall either:

   1. (1) submit via upload to the comptroller's Internet web site the completed Annual Local Debt Report Form provided by the comptroller and, if the political subdivision maintains an Internet website, continually maintain a link from its website to the location on the comptroller's website where the political subdivision's financial information may be viewed; or
   2. (2) post the information required in an Annual Local Debt Report on the political subdivision's own Internet website.

2. (b) The governing body of a political subdivision that elects to post its annual debt information on its own Internet website as described in subsection (a)(2) of this section shall take action to ensure that:

   1. (1) this information is made available for inspection by any person and posted continuously on the political subdivision's website until the political subdivision posts the next year's annual debt information; and
   2. (2) the contact information for the political subdivision's main office is posted continuously on the website and such information includes a physical address, mailing address, main telephone number, and an e-mail address.
3. (c) For Fiscal Year 2016 and Fiscal Year 2017, a political subdivision shall submit to the comptroller or post the annual debt information described in subsection (a) of this section by the later of 180 days after the end of the respective fiscal year or 180 days after the effective date of this rule.

Source Note:The provisions of this §10.4 adopted to be effective January 3, 2018, 42 TexReg 7718.