Texas Government Code 436.158 – Issuance of General Obligation Bonds and Notes for Military Value Account
(a) The Texas Public Finance Authority may issue and sell general obligation bonds and notes of the state, as authorized by § 49-n, Article III, Texas Constitution, for the purpose of providing money to establish the Texas military value revolving loan account.
(b) The proceeds of the bonds and notes shall be deposited into the Texas military value revolving loan account or into other separate funds as may be required to provide for payment of issuance and administrative costs and may be used as authorized by § 49-n, Article III, Texas Constitution, including:
(1) to fund loans approved under Section 436.153, 436.1531, or 436.1532;
(2) to pay the costs of issuing and selling bonds and notes; and
(3) to pay the costs of administering the bonds and notes and the loan program, including the payment of fees and expenses of advisors.
Terms Used In Texas Government Code 436.158
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(c) The bonds and notes shall be issued in accordance with and subject to the provisions of Chapters 1201, 1207, 1231, 1232, and 1371.
(d) In connection with bonds or notes issued under this section, the Texas Public Finance Authority may enter into one or more credit agreements at any time for a period and on conditions the authority approves.