Sec. 1232.108. LEGISLATIVE AUTHORIZATION REQUIRED. Except as permitted by Section 1232.1072, 1232.109, 2166.452, or 2166.453, before the board may issue and sell bonds, the legislature by the General Appropriations Act or other law must have authorized:
(1) the specific project for which the bonds are to be issued and sold; and
(2) the estimated cost of the project or the maximum amount of bonded indebtedness that may be incurred by the issuance and sale of bonds for the project.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 805 (H.B. 1520), Sec. 4, eff. June 16, 2021.
Structure Texas Statutes
Subtitle B - Provisions Applicable to Securities Issued by State Government
Chapter 1232 - Texas Public Finance Authority
Section 1232.101. Issuance of Bonds for Certain State Agencies
Section 1232.102. Issuance of Bonds for State Office Buildings
Section 1232.1025. Issuance of Bonds for Military Facilities
Section 1232.1026. Issuance of Bonds for Texas Bullion Depository Buildings
Section 1232.103. Issuance of Obligations for Equipment
Section 1232.104. Issuance of Obligations for Alternative Fuel Projects
Section 1232.105. Aggregate Limit on Issuance of Obligations for Alternative Fuel Projects
Section 1232.106. Evaluation of Application for Assistance With Alternative Fuel Projects
Section 1232.107. Purchase of Obligations for Alternative Fuel Projects
Section 1232.1071. Issuance of Obligations for Financing Stranded Costs of Municipal Power Agency
Section 1232.1072. Issuance of Obligations for Financing Customer Rate Relief Property
Section 1232.108. Legislative Authorization Required
Section 1232.109. Authorization to Purchase Certain Real Property
Section 1232.110. Specific Projects
Section 1232.111. Certain Projects by Texas Department of Transportation
Section 1232.112. Bond Review Board Approval
Section 1232.113. Obligation Issuance Orientation; Information to and From Client Agencies
Section 1232.114. Project Analysis
Section 1232.115. Expenses Included in Principal Amount
Section 1232.116. Manner of Repayment
Section 1232.117. State Debt Not Created
Section 1232.118. Order or Resolution Authorizing Issuance of Obligations
Section 1232.119. Adoption and Execution of Instruments
Section 1232.1191. Delegation of Authority
Section 1232.120. Exemption From Taxation
Section 1232.121. Certification and Deposit of Proceeds of Obligations
Section 1232.122. Commencement of Construction, Purchase, or Lease
Section 1232.1221. Commencement of Certain Multiyear Cancer-Related Projects