Texas Statutes
Subchapter C. Obligations
Section 1232.1026. Issuance of Bonds for Texas Bullion Depository Buildings

Sec. 1232.1026. ISSUANCE OF BONDS FOR TEXAS BULLION DEPOSITORY BUILDINGS. (a) The board may issue and sell bonds in the name of the authority to finance the acquisition or construction of buildings to be used to operate the Texas Bullion Depository, including the acquisition of real property for that purpose.
(b) The comptroller shall accomplish its statutory authority as if the property or building acquired or constructed under this section were funded by legislative appropriation. The board and the comptroller shall adopt a memorandum of understanding that defines the division of authority between the board and comptroller regarding the property or building.
(c) To accomplish the bond financing of the acquisition or construction of property or a building under this section, the comptroller shall contract with the authority to purchase the property or building from the authority under a lease-to-purchase agreement or other comparable financing agreement, as determined by the board and the comptroller to be in the best interest of the state.
Added by Acts 2021, 87th Leg., R.S., Ch. 981 (S.B. 2230), Sec. 1, eff. June 18, 2021.

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