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Texas Constitution:Article III, Section 49-b (view source)
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'''(k) The principal of and interest on the general obligation bonds for the benefit of the Veterans' Land Fund, including payments by the Board under a bond enhancement agreement with respect to principal of or interest on the bonds, shall be paid out of the money of the Veterans' Land Fund, but the money in the Fund that is not immediately committed to the payment of principal and interest on the bonds, the purchase of lands, or the payment of expenses may be invested as authorized by law until the money is needed for those purposes.''' | '''(k) The principal of and interest on the general obligation bonds for the benefit of the Veterans' Land Fund, including payments by the Board under a bond enhancement agreement with respect to principal of or interest on the bonds, shall be paid out of the money of the Veterans' Land Fund, but the money in the Fund that is not immediately committed to the payment of principal and interest on the bonds, the purchase of lands, or the payment of expenses may be invested as authorized by law until the money is needed for those purposes.''' | ||
'''(l) The Veterans' Housing Assistance Fund II is a separate and distinct fund from the Veterans' Housing Assistance Fund. Money in the Veterans' Housing Assistance Fund II shall be administered by the Veterans' Land Board and shall be used to make home mortgage loans to veterans for housing within this | '''(l) The Veterans' Housing Assistance Fund II is a separate and distinct fund from the Veterans' Housing Assistance Fund. Money in the Veterans' Housing Assistance Fund II shall be administered by the Veterans' Land Board and shall be used to make home mortgage loans to veterans for housing within this State in quantities, on terms, and at fixed, variable, floating, or other rates of interest, determined by the Board and in accordance with rules of the Board. The expenses of the Board in connection with the issuance of the bonds for the benefit of the Veterans' Housing Assistance Fund II and the making of the loans may be paid from money in the Veterans' Housing Assistance Fund II.''' | ||
'''(m) The Veterans' Housing Assistance Fund II shall consist of: (1) the Board's interest in home mortgage loans the Board makes to veterans from money in the Fund under the Veterans' Housing Assistance Program established by law; (2) proceeds derived from the sale or other disposition of the Board's interest in home mortgage loans; (3) money attributable to bonds issued and sold by the Board to provide money for the Fund, including the proceeds from the issuance and sale of bonds; (4) income, rents, and other pecuniary benefits received by the Board as a result of making loans; (5) money received by way of indemnity or forfeiture for the failure of a bidder for the purchase of bonds to comply with the bid and accept and pay for the bonds; (6) payments received by the Board under a bond enhancement agreement with respect to the bonds; and (7) interest received from investments of money.''' | '''(m) The Veterans' Housing Assistance Fund II shall consist of: (1) the Board's interest in home mortgage loans the Board makes to veterans from money in the Fund under the Veterans' Housing Assistance Program established by law; (2) proceeds derived from the sale or other disposition of the Board's interest in home mortgage loans; (3) money attributable to bonds issued and sold by the Board to provide money for the Fund, including the proceeds from the issuance and sale of bonds; (4) income, rents, and other pecuniary benefits received by the Board as a result of making loans; (5) money received by way of indemnity or forfeiture for the failure of a bidder for the purchase of bonds to comply with the bid and accept and pay for the bonds; (6) payments received by the Board under a bond enhancement agreement with respect to the bonds; and (7) interest received from investments of money.''' | ||