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Texas Constitution talk:Article XVI, Section 67
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== review == Woods v. Reilly, 218 S.W.2d 437,442 (Tex. 1949) (purpose of former art. III, 48a ofthe Texas Constitution of 1936 (repealed 1965) was to provide security for public school teachers and provide incentive for qualified persons to become and remain teachers). Article XVI, subsection 67(a)(3) of the Texas Constitution and section 825.301 of the Government Code specify the authority of the Teacher Retirement System to invest its funds, which is limited to items qualifying as “securities” under subsection 825.301(a). To the extent any real estate investment of the System does not qualify as a “security” pursuant to subsection 825.301(a), it is unconstitutional. https://www.texasattorneygeneral.gov/sites/default/files/opinion-files/opinion/2020/kp-0328.pdf
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