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Texas Constitution:Article III, Section 50-f (view source)
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'''(c) The maximum net effective interest rate to be borne by bonds issued under this section may be set by general law.''' | '''(c) The maximum net effective interest rate to be borne by bonds issued under this section may be set by general law.''' | ||
'''(d) While any of the bonds or interest on the bonds authorized by this section is outstanding and unpaid, from the first money coming into the State Treasury in each fiscal year not otherwise appropriated by this | '''(d) While any of the bonds or interest on the bonds authorized by this section is outstanding and unpaid, from the first money coming into the State Treasury in each fiscal year not otherwise appropriated by this Constitution, an amount sufficient to pay the principal and interest on bonds that mature or become due during the fiscal year and to make payments that become due under a related credit agreement during the fiscal year is appropriated, less the amount in the sinking fund at the close of the previous fiscal year.''' | ||
'''(e) Bonds issued under this section, after approval by the Attorney General, registration by the Comptroller of Public Accounts, and delivery to the purchasers, are incontestable and are general obligations of the State of Texas under this | '''(e) Bonds issued under this section, after approval by the Attorney General, registration by the Comptroller of Public Accounts, and delivery to the purchasers, are incontestable and are general obligations of the State of Texas under this Constitution.''' | ||
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|seo_keywords=Article 3 Section 50-f, state bonds, debt authorization | |seo_keywords=Article 3 Section 50-f, state bonds, debt authorization | ||
|seo_description=The Legislature may authorize the Texas Public Finance Authority to issue state bonds for certain purposes. | |seo_description=The Legislature may authorize the Texas Public Finance Authority to issue state bonds for certain purposes. | ||
|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 | ||