Texas Constitution, April 2008 Page: 21
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Art. 3 Sec. 49-b
- Sec. 49-b. VETERANS' LAND BOARD; BOND ISSUES; VETERANS'
* LAND FUND; VETERANS' HOUSING ASSISTANCE FUND; VETERANS'
HOUSING ASSISTANCE FUND II. (a) The Veterans' Land Board shall be
composed of the Commissioner of the General Land Office and two (2) citizens
3 of the State of Texas, one (1) of whom shall be well versed in veterans' affairs and
one (1) of whom shall be well versed in finances. One (1) such citizen member
shall, with the advice and consent of the Senate, be appointed biennially by the
Governor to serve for a term of four (4) years. In the event of the resignation or
death of any such citizen member, the Governor shall appoint a replacement to
serve for the unexpired portion of the term to which the deceased or resigning
member had been appointed. The compensation for said citizen members shall be
as is now or may hereafter be fixed by the Legislature; and each shall make bond
in such amount as is now or may hereafter be prescribed by the Legislature.
(b) The Commissioner of the General Land Office shall act as Chairman of
said Board and shall be the administrator of the Veterans' Land Program under
5 such terms and restrictions as are now or may hereafter be provided by law. In
the absence or illness of said Commissioner, the Chief Clerk of the General
S Land Office shall be the Acting Chairman of said Board with the same duties
and powers that said Commissioner would have if present.
(c) The Veterans' Land Board may provide for, issue and sell bonds or
obligations of the State of Texas as authorized by constitutional amendment or by
" a debt proposition under Section 49 of this article for the purpose of creating the
Veterans' Land Fund, the Veterans' Housing Assistance Fund, and the Veterans'
Housing Assistance Fund II.
" (d) Said Veterans' Land Fund, to the extent of the moneys attributable to
any bonds hereafter issued and sold by said Board may be used by said Board,
0 as is now or may hereafter be provided by law, for the purpose of paying the
expenses of surveying, monumenting, road construction, legal fees, recordation
fees, advertising and other like costs necessary or incidental to the purchase
5 and sale, or resale, of any lands purchased with any of the moneys attributable
to such additional bonds, such expenses to be added to the price of such lands
when sold, or resold, by said Board; for the purpose of paying the expenses of
issuing, selling, and delivering any such additional bonds; and for the purpose
of meeting the expenses of paying the interest or principal due or to become due
" on any such additional bonds.
- (e) For purposes of this section, "veteran" means a person who satisfies the
definition of "veteran" as set forth by the laws of the State of Texas.
0 (f) The Veterans' Housing Assistance Fund shall be administered by the
5 Veterans' Land Board and shall be used for the purpose of making home mortgage
loans to veterans for housing within the State of Texas in such quantities, on such
S terms, at such rates of interest, and under such rules and regulations as may be
authorized by law. The expenses of the board in connection with the issuance of
the bonds for the benefit of the Veterans' Housing Assistance Fund and the making
of the loans may be paid from money in the fund. The principal of and interest
on the general obligation bonds authorized by this section for the benefit of the
S Veterans' Housing Assistance Fund shall be paid out of the money of the fund,
S
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Texas. Legislature. Legislative Council. Research Division. Texas Constitution, April 2008, book, April 2008; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth654146/m1/27/?q=%222008~%22: accessed August 15, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.