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Texas Constitution:Article III, Section 49-e (view source)
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{{DISPLAYTITLE:Article III, Section 49-e of the Texas Constitution (''<small>"Texas Park Development Fund; Bonds"</small>'')}}{{Texas Constitution|text=As amended November 2, 1999: | {{DISPLAYTITLE:Article III, Section 49-e of the Texas Constitution (''<small>"Texas Park Development Fund; Bonds"</small>'')}}{{Texas Constitution|text=As amended November 2, 1999: | ||
'''(a) The Parks and Wildlife Department, or its successor vested with the powers, duties, and authority which deals with the operation, maintenance, and improvement of State Parks, shall have the authority to provide for, issue and sell general obligation bonds of the State of Texas in an amount authorized by constitutional amendment or by a debt proposition under Section [[Texas Constitution:Article III, Section 49|49]] of this | '''(a) The Parks and Wildlife Department, or its successor vested with the powers, duties, and authority which deals with the operation, maintenance, and improvement of State Parks, shall have the authority to provide for, issue and sell general obligation bonds of the State of Texas in an amount authorized by constitutional amendment or by a debt proposition under Section [[Texas Constitution:Article III, Section 49|49]] of this Article. The bonds shall be called "Texas Park Development Bonds," shall be executed in such form, denominations, and upon such terms as may be prescribed by law, shall bear a rate or rates of interest as may be fixed by the Parks and Wildlife Department or its successor, not to exceed the maximum prescribed by Section [[Texas Constitution:Article III, Section 65|65]] of this Article, and may be issued in such installments as said Parks and Wildlife Department, or its said successor, finds feasible and practical in accomplishing the purpose set forth herein.''' | ||
'''(b) All moneys received from the sale of said bonds shall be deposited in a fund hereby created with the Comptroller of Public Accounts of the State of Texas to be known as the Texas Park Development Fund to be administered (without further appropriation) by the said Parks and Wildlife Department, or its said successor, in such manner as prescribed by law.''' | '''(b) All moneys received from the sale of said bonds shall be deposited in a fund hereby created with the Comptroller of Public Accounts of the State of Texas to be known as the Texas Park Development Fund to be administered (without further appropriation) by the said Parks and Wildlife Department, or its said successor, in such manner as prescribed by law.''' | ||