Sec. 162.050. CONSTITUTIONAL APPROPRIATIONS. (a) If, during the existence of the fund or during the time any general obligation bonds are payable from the fund, the board determines that there will not be sufficient money in the fund during the following biennium available to pay principal of or interest on the bonds or both principal and interest that are to come due and to be paid from the fund during the following biennium, the comptroller shall transfer to the fund the first money coming into the State Treasury not otherwise appropriated by the constitution in amounts sufficient to pay the obligations.
(b) The money appropriated shall be used to pay the obligations only if at the time the principal or interest or both actually become due there is not sufficient money in the fund available to pay the amount due.
Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1. Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 2.15, eff. Aug. 30, 1993.
Structure Texas Statutes
Chapter 162 - Veterans' Housing Assistance Program
Section 162.031. Issuance and Sale of Bonds; Disposition of Proceeds
Section 162.033. Interest Rate
Section 162.034. Payment and Maturity of Bonds
Section 162.035. Form, Denomination, and Place of Payment of Bonds
Section 162.036. Manner of Execution
Section 162.037. Signatures and Seals
Section 162.038. Approval by Attorney General
Section 162.039. Registration With Comptroller
Section 162.040. Validity of Bonds
Section 162.041. Bonds as Negotiable Instruments
Section 162.042. Notice for Bids on Bonds
Section 162.043. Security for Bid
Section 162.044. Sale of Bonds
Section 162.045. Replacement Bonds
Section 162.046. Refunding Bonds
Section 162.047. Bonds as Investments and Security
Section 162.048. Taxation of Bonds
Section 162.049. Payment of Principal and Interest
Section 162.050. Constitutional Appropriations