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

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

No change in size , August 9, 2023

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 '''(c) A portion of the proceeds from the sale of the bonds and notes and a portion of the interest earned on the bonds and notes may be used to pay: (1) the costs of administering projects authorized under this section; and (2) all or part of a payment owed or to be owed under a credit agreement.'''
-'''(d) The bonds and notes authorized under this section constitute a general obligation of the state. While any of the bonds or notes or interest on the bonds or notes is outstanding and unpaid, there is appropriated out of the General Revenue Fund in each fiscal year an amount sufficient to pay the principal of and interest on the bonds and notes that mature or become due during the fiscal year, including an amount sufficient to make payments under a related credit agreement.'''
+'''(d) The bonds and notes authorized under this section constitute a general obligation of the State. While any of the bonds or notes or interest on the bonds or notes is outstanding and unpaid, there is appropriated out of the General Revenue Fund in each fiscal year an amount sufficient to pay the principal of and interest on the bonds and notes that mature or become due during the fiscal year, including an amount sufficient to make payments under a related credit agreement.'''
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