Tex.
Gov't Code Section 1401.041
General Obligation Bonds
(a)
As provided by Section 49-h( a), Article III, Texas Constitution, as that section existed September 1, 1999, the authority may:(1)
issue general obligation bonds in an amount not to exceed $500 million; and(2)
distribute the bond proceeds as provided by that section.(b)
As provided by Section 49-h(c), Article III, Texas Constitution, as that section existed September 1, 1999, the authority may:(1)
issue general obligation bonds in an amount not to exceed $400 million; and(2)
distribute the bond proceeds to any appropriate agency to:(A)
acquire, construct, or equip a new facility; or(B)
make a major repair of or renovate a facility, corrections institution, youth corrections institution, mental health institution, or intellectual disability institution.(c)
As provided by Section 49-h(d), Article III, Texas Constitution, as that section existed September 1, 1999, the authority may:(1)
issue general obligation bonds in an amount not to exceed $1.055 billion and distribute the bond proceeds to any appropriate agency to:(A)
acquire, construct, or equip a:(i)
new prison or substance abuse felony punishment facility to confine criminals; or(ii)
youth corrections institution;(B)
make a major repair of or renovate a prison facility or youth corrections institution; or(C)
acquire, make a major repair of, or renovate a facility for use as a state prison, a substance abuse felony punishment facility, or a facility in which a pilot program established as provided by Section 614.011, Health and Safety Code, is conducted;(2)
issue general obligation bonds in an amount not to exceed $45 million and distribute the bond proceeds to any appropriate agency to:(A)
acquire, construct, or equip a new mental health facility or intellectual disability facility, including a community-based mental health facility or community-based intellectual disability facility; or(B)
make a major repair of or renovate a mental health facility or intellectual disability facility; and(3)
issue general obligation bonds in an amount not to exceed $50 million and distribute the bond proceeds to any appropriate agency to:(A)
acquire, construct, or equip a new youth corrections facility; or(B)
make a major repair of or renovate a youth corrections facility.(d)
As provided by Section 49-h(e), Article III, Texas Constitution, as that section existed September 1, 1999, the authority may:(1)
issue general obligation bonds in an amount not to exceed $1 billion; and(2)
distribute the bond proceeds as provided by that section.
Source:
Section 1401.041 — General Obligation Bonds, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1401.htm#1401.041 (accessed May 18, 2024).
