Texas Constitution:Article III, Section 49-f: Difference between revisions

Texas Constitution:Article III, Section 49-f (view source)

No change in size , August 7, 2023

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Text replacement - "the treasury" to "the Treasury"

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 '''(d) The principal amount of bonds outstanding at one time may not exceed $500 million.'''
-'''(e) While any of the bonds authorized by this section or any interest on those bonds is outstanding and unpaid, there is appropriated out of the first money coming into the treasury in each fiscal year not otherwise appropriated by this constitution an amount that is sufficient to pay the principal and interest on the bonds that mature or become due during the fiscal year less the amount in the interest and sinking fund at the close of the prior fiscal year.'''
+'''(e) While any of the bonds authorized by this section or any interest on those bonds is outstanding and unpaid, there is appropriated out of the first money coming into the Treasury in each fiscal year not otherwise appropriated by this constitution an amount that is sufficient to pay the principal and interest on the bonds that mature or become due during the fiscal year less the amount in the interest and sinking fund at the close of the prior fiscal year.'''
 '''(f) The bonds shall be approved by the Attorney General and registered with the Comptroller of Public Accounts. The bonds, when approved and registered, are general obligations of the state and are incontestable.'''