Tex.
Gov't Code Section 1232.102
Issuance of Bonds for State Office Buildings
(a)
The board may issue and sell bonds in the name of the authority to finance the acquisition or construction of buildings. After receiving a request described by Section 2166.452 (Acquisition of Existing Building as Alternative to New Construction), the board may issue bonds in amounts not exceeding the previously authorized amount of bonds plus five percent of the acquisition cost of the property, as described in the request.(b)
The board shall promptly issue and sell bonds in the name of the authority under this chapter to finance the acquisition or construction of a building that has been authorized in accordance with this chapter or under Section 2166.452 (Acquisition of Existing Building as Alternative to New Construction) or 2166.453 (Acquisition of Real Property as Alternative to Leasing Space).(c)
The commission or other state agency involved in acquiring or constructing a building financed by bonds issued under this chapter shall accomplish its statutory authority as if the building were financed by legislative appropriation. The board and the commission or other state agency involved in the acquisition or construction of a building shall adopt a memorandum of understanding that defines the division of authority between the board and the commission or other agency.
Source:
Section 1232.102 — Issuance of Bonds for State Office Buildings, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1232.htm#1232.102 (accessed Jun. 5, 2024).
