Tex. Gov't Code Section 1232.1116
Certain Maintenance, Improvement, Repair, and Construction Projects; General Obligation Bonds

(a)

The authority has the exclusive power to issue general obligation bonds under Section 50-g, Article III, Texas Constitution. The board shall issue the bonds in a cumulative amount not to exceed $1 billion for:

(1)

maintenance, improvement, repair, and construction projects in or outside Travis County that are administered by or on behalf of a state agency listed in Section 50-g, Article III, Texas Constitution, and authorized by the legislature in accordance with Section 1232.108; or

(2)

the purchase of needed equipment by or on behalf of such an agency, and authorized by the legislature by the General Appropriations Act or other law.

(b)

The board shall provide for, issue, and sell the bonds in accordance with Section 50-g, Article III, Texas Constitution, and this chapter. Proceeds from the sale of the bonds shall be invested as provided by this chapter.

(c)

Proceeds from the sale of the bonds may be spent on an authorized project or for the purchase of needed equipment only in accordance with the legislative appropriation of the proceeds.
Added by Acts 2007, 80th Leg., R.S., Ch. 1392 (S.B. 2033), Sec. 1.

Source: Section 1232.1116 — Certain Maintenance, Improvement, Repair, and Construction Projects; General Obligation Bonds, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­1232.­htm#1232.­1116 (accessed Jun. 5, 2024).

1232.001
Short Title 1232.002
Purpose 1232.003
Definitions 1232.004
State Lease Fund Account 1232.005
Application of State Funds Reform Act 1232.051
Texas Public Finance Authority 1232.052
Composition of Governing Board 1232.053
Terms 1232.054
Grounds for Removal 1232.055
Board Member Training 1232.056
Officers 1232.057
Public Testimony at Board Meetings 1232.058
Compensation and Expenses 1232.059
Staff 1232.060
Conflict of Interest 1232.061
Information on Responsibilities of Board Members and Employees 1232.062
Separation of Policymaking and Management Responsibilities 1232.063
Equal Employment Opportunity 1232.064
Career Ladder 1232.065
Compliance with Laws Relating to Accessibility 1232.066
Board Authority 1232.067
General Powers 1232.068
Eminent Domain 1232.070
Information on Complaints 1232.071
Relationship to Previous Board 1232.072
Sunset Provision 1232.073
Negotiated Rulemaking and Alternative Dispute Resolution 1232.101
Issuance of Bonds for Certain State Agencies 1232.102
Issuance of Bonds for State Office Buildings 1232.103
Issuance of Obligations for Equipment 1232.104
Issuance of Obligations for Alternative Fuel Projects 1232.105
Aggregate Limit on Issuance of Obligations for Alternative Fuel Projects 1232.106
Evaluation of Application for Assistance with Alternative Fuel Projects 1232.107
Purchase of Obligations for Alternative Fuel Projects 1232.108
Legislative Authorization Required 1232.109
Authorization to Purchase Certain Real Property 1232.110
Specific Projects 1232.111
Certain Projects by Texas Department of Transportation 1232.112
Bond Review Board Approval 1232.113
Obligation Issuance Orientation 1232.114
Project Analysis 1232.115
Expenses Included in Principal Amount 1232.116
Manner of Repayment 1232.117
State Debt Not Created 1232.118
Order or Resolution Authorizing Issuance of Obligations 1232.119
Adoption and Execution of Instruments 1232.120
Exemption from Taxation 1232.121
Certification and Deposit of Proceeds of Obligations 1232.122
Commencement of Construction, Purchase, or Lease 1232.123
Investment of Bond Proceeds 1232.124
Preference for Texas Businesses 1232.201
Rent and Fees 1232.202
Contracts Contingent on Legislative Appropriations 1232.203
Lease of Space for Child Care Facility 1232.204
Leasing Preference 1232.205
Lease of Space to Outside Entities 1232.206
Property Conveyance 1232.1025
Issuance of Bonds for Military Facilities 1232.1026
Issuance of Bonds for Texas Bullion Depository Buildings 1232.1071
Issuance of Obligations for Financing Stranded Costs of Municipal Power Agency 1232.1072
Issuance of Obligations for Financing Customer Rate Relief Property 1232.1115
Certain Construction and Repair Projects and Equipment Purchases 1232.1116
Certain Maintenance, Improvement, Repair, and Construction Projects 1232.1191
Delegation of Authority 1232.1221
Commencement of Certain Multiyear Cancer-related Projects
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 1232.1116’s source at texas​.gov