EL PASO COUNTY COMMUNITY COLLEGE DISTRICT
BOARD POLICY
4.03.06
CERTIFICATES OF INDEBTEDNESS
The Board shall, when deemed necessary, issue interest bearing certificates of indebtedness to obtain funds to erect or
put up school buildings in the District, or to refinance outstanding certificates, subject to certain restrictions contained in the
Texas Education Code. Such certificates shall not mature over a period exceeding twenty-five years from date of issue, nor
bear interest at a rate exceeding seven percent (7%) per annum. The District shall not at any time have certificates outstanding
and unpaid in a principal amount in excess of $250,000.00, unless the excess is authorized under the Texas Education Code.
All certificates shall be legal, authorized investments, and shall become an indebtedness of the District.
Adopted: Nov. 21, 1978
Amended:
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