Sec. 162.031. ISSUANCE AND SALE OF BONDS; DISPOSITION OF PROCEEDS.
214 words·~1 min read·
/tx/natural-resources-code/title-7-resources-programs/chapter-162-veterans-housing-assistance-program/subchapter-a-general-provisions/162-031·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 162.031. ISSUANCE AND SALE OF BONDS; DISPOSITION OF PROCEEDS.
(a)By appropriate action, the board may provide by resolution for the issuance and sale of negotiable bonds authorized by the constitution, and the proceeds shall be a part of the fund, except that the proceeds of bonds issued under the authority of Article III, Section 49-b-1, of the Texas Constitution for the purpose of making loans to veterans shall be a part of the veterans' housing assistance fund established by that provision, and the proceeds of bonds issued under the authority of Article III, Section 49-b-2, of the Texas Constitution for the purpose of making loans to veterans shall be a part of the veterans' housing assistance fund established by that provision.
(b)The board may use money in the fund attributable to bonds issued to provide money for the fund to pay all costs of issuance of the bonds, including costs, fees, and expenses of the sort the board is authorized to pay from the veterans' land fund in connection with the issuance of the veterans' land bonds.
Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1. Amended by Acts 1989, 71st Leg., ch. 720, Sec. 5, eff. June 14, 1989; Acts 1993, 73rd Leg., ch. 242, Sec. 2.10.