Texas Constitution, April 2008 Page: 43
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Art. 3 Sec. 49-1
and is implemented by the commission, while any of the bonds, notes, other
obligations, or credit agreements are outstanding and unpaid, and for any fiscal
year during which the dedicated revenue, taxes, and money are insufficient to
make all payments when due, there is appropriated, and there shall be deposited
in the fund, out of the first money coming into the state treasury in each fiscal
year that is not otherwise appropriated by this constitution, an amount that is
" sufficient to pay the principal of the obligations and agreements and the interest
on the obligations and agreements that become due during that fiscal year, minus
any amount in the fund that is available for that payment in accordance with
" applicable law.
" (h) Proceedings authorizing obligations and related credit agreements to be
issued and executed under the authority of this section shall be submitted to the
" attorney general for approval as to their legality. If the attorney general finds
that they will be issued in accordance with this section and applicable law, the
attorney general shall approve them, and, after payment by the purchasers of the
obligations in accordance with the terms of sale and after execution and delivery
of the related credit agreements, the obligations and related credit agreements
are incontestable for any cause.
" (i) Obligations and credit agreements issued or executed under the authority
of this section may not be included in the computation required by Section 49-j,
S Article III, of this constitution, except that if money has been dedicated to the
* fund without specification of its source or the authority granted by Subsection (g)
of this section has been implemented, the obligations and credit agreements shall
be included to the extent the comptroller projects that general funds of the state,
if any, will be required to pay amounts due on or on account of the obligations
and credit agreements.
" (j) The collection and deposit of the amounts required by this section,
applicable law, and contract to be applied to the payment of obligations and
credit agreements issued, executed, and secured under the authority of this section
5 may be enforced by mandamus against the commission, the department, and the
comptroller in a district court of Travis County, and the sovereign immunity of
S the state is waived for that purpose. (Added Nov. 6, 2001.)
" Sec. 49-1. FINANCIAL ASSISTANCE TO COUNTIES FOR ROADWAY
PROJECTS TO SERVE BORDER COLONIAS. (a) To fund financial
assistance to counties for roadways to serve border colonias, the legislature by
general law may authorize the governor to authorize the Texas Public Finance
Authority or its successor to issue general obligation bonds or notes of the State
of Texas in an aggregate amount not to exceed $175 million and to enter into
related credit agreements. Except as provided by Subsection (c) of this section,
the proceeds from the sale of the bonds and notes may be used only to provide
. financial assistance to counties for projects to provide access roads to connect
border colonias with public roads. Projects may include the construction of
colonia access roads, the acquisition of materials used in maintaining colonia
access roads, and projects related to the construction of colonia access roads,
such as projects for the drainage of the roads.
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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/m1/49/?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.