The Harris Texas Industrial Revenue Development Bond Work form is a legal document that outlines the terms and conditions of issuing industrial revenue development bonds in Harris County, Texas. These bonds are a form of financing tool used by local government entities to stimulate economic growth and attract new businesses to the area. The work form contains multiple sections that provide detailed information about the purpose, structure, and requirements of the bond issuance process. It outlines the specific guidelines and procedures that must be followed by both the issuing authority and the applicant seeking the bond financing. Key sections within the Harris Texas Industrial Revenue Development Bond Work form include: 1. Introduction and Background: This section provides an overview of the purpose and goals of the bond issuance program, as well as the legal authority under which it operates. 2. Eligibility and Application Process: This section outlines the criteria that businesses or projects must meet in order to be considered for the bond financing. It includes specific details regarding the application process, deadlines, and required documentation. 3. Bond Allocation and Funding: This section explains how the bond allocation process works, including the maximum amount of bonds available for issuance and the factors considered in determining the allocation amount. It also describes the funding sources used to repay the bonds, such as revenue generated by the supported project or the issuing authority. 4. Bond Terms and Conditions: This section provides detailed information on the specific terms and conditions of the industrial revenue development bonds, including interest rates, maturity dates, repayment schedules, and any restrictions or covenants placed on the bondholders. 5. Compliance and Reporting Requirements: This section outlines the ongoing compliance and reporting obligations that the bond recipient must fulfill throughout the life of the bond. It includes provisions related to financial reporting, audits, and project monitoring. Additional types of Harris Texas Industrial Revenue Development Bond Work forms may include: 1. Harris Texas Industrial Revenue Development Bond Renewal Work form: This work form is used when an existing bond is nearing its maturity date and the bondholder wishes to renew or extend the bond term. 2. Harris Texas Industrial Revenue Development Bond Modification Work form: This work form is utilized when changes or modifications need to be made to the terms and conditions of an existing bond. It could involve adjustments to interest rates, repayment schedules, or any other agreed-upon changes. 3. Harris Texas Industrial Revenue Development Bond Termination Work form: This work form is used when the bond term has reached its end and the bondholder has fulfilled all obligations. It outlines the process for terminating the bond and releasing any remaining collateral or security. In summary, the Harris Texas Industrial Revenue Development Bond Work form is a critical legal document that governs the issuance of industrial revenue development bonds in Harris County, Texas. It provides a framework for businesses to access financing options and supports economic growth in the region.