Texas Constitution:Article III, Section 49-m: Difference between revisions
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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_title=Article III, Section 49-m of the Texas Constitution ("Notes and Loans for Texas Department of Transportation Functions") | |seo_title=Article III, Section 49-m of the Texas Constitution ("Notes and Loans for Texas Department of Transportation Functions") | ||
|seo_keywords=Article 3 Section 49-m, | |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 | ||
Latest revision as of 10:55, June 17, 2024
Added September 13, 2003:
(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 7-a and 7-b, Article VIII, of this Constitution for the purpose of paying a debt created by the notes or loan.
Editor Comments
None.
Recent Decisions
None.
Historic Decisions
None.
Library Resources
- Vernon's Annotated Constitution of the State of Texas (this multi-volume and up-to-date resource is available at all law libraries and many municipal libraries)
- The Texas State Constitution: A Reference Guide (this one-volume resource is available at most law libraries and some municipal libraries)
- The Constitution of the State of Texas: An Annotated and Comparative Analysis (this two-volume resource is available at most law libraries and some municipal libraries)
Online Resources
- Constitution of the State of Texas (1876) (this resource is published and maintained by the University of Texas School of Law)
- Amendments to the Texas Constitution Since 1876 (this resource is published and regularly updated by the Legislative Council)
- Reports Analyzing Proposed Amendments (this resource is published and regularly updated by the Legislative Reference Library)