Difference between revisions of "Texas Constitution:Article III, Section 49-m"

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{{DISPLAYTITLE:Article III, Section 49-m of the Texas Constitution}}{{Template:Texas Constitution | text=Added September 13, 2003:
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{{DISPLAYTITLE:Article III, Section 49-m of the Texas Constitution}}{{Template:Texas Constitution|text=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. '''
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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.'''
  
''' (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. '''
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'''(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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Latest revision as of 10:20, July 12, 2019

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

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Steve Smith

Recent Decisions

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Historic Decisions

None.

Library Resources

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