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Texas Constitution:Article III, Section 49-m (view source)
Revision as of 10:55, June 17, 2024
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'''(a) The Legislature, by law, may authorize the Texas Transportation Commission or its successor to authorize the Texas Department of Transportation or its successor to issue notes or borrow money from any source to carry out the functions of the department.''' | '''(a) The Legislature, by law, may authorize the Texas Transportation Commission or its successor to authorize the Texas Department of Transportation or its successor to issue notes or borrow money from any source to carry out the functions of the department.''' | ||
'''(b) Notes issued or a loan obtained under this section may not have a term of more than two years. The Legislature may appropriate money dedicated by Sections [[Texas Constitution:Article VIII, Section 7-a|7-a]] and [[Texas Constitution:Article VIII, Section 7-b|7-b]], Article VIII, of this | '''(b) Notes issued or a loan obtained under this section may not have a term of more than two years. The Legislature may appropriate money dedicated by Sections [[Texas Constitution:Article VIII, Section 7-a|7-a]] and [[Texas Constitution:Article VIII, Section 7-b|7-b]], Article VIII, of this Constitution for the purpose of paying a debt created by the notes or loan.''' | ||
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|seo_keywords=Article 3 Section 49-m, short-term notes, debt authorization | |seo_keywords=Article 3 Section 49-m, short-term notes, debt authorization | ||
|seo_description=The Legislature may authorize the Texas Department of Transportation to borrow money to carry out its functions. | |seo_description=The Legislature may authorize the Texas Department of Transportation to borrow money to carry out its functions. | ||
|seo_image= | |seo_image=mod_Texas_Constitution_of_1876_Article_3.jpg | ||
|seo_image_alt=Article III: Legislative Department | |seo_image_alt=Article III: Legislative Department | ||