Texas Education Code - Section 56.126. Revenue Bonds
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§ 56.126. REVENUE BONDS. (a) The board may by resolution
authorize the issuance of revenue bonds to operate the program of
making loans from the fund under this subchapter. The board may
issue the bonds in the form, with the characteristics, and bearing
the designations provided in the resolution.
(b) The board may pledge all or part of the revenue derived
from the operation of the program of making loans from the fund to
secure the bonds.
(c) The board must issue the bonds in the manner provided by
Chapter 1201, Government Code.
(d) The bonds are special obligations of the board payable
only from designated income and receipts of the board, including
principal and interest payments on loans from the fund, income from
the accounts created in the fund, and receipts and other revenues
pledged to the retirement of the bonds.
(e) The bonds do not constitute indebtedness of the state.
Added by Acts 1991, 72nd Leg., ch. 330, § 1, eff. June 5, 1991.
Amended by Acts 2001, 77th Leg., ch. 1420, § 8.221, eff. Sept. 1,
2001.
Section: 56.094 56.095 56.121 56.122 56.123 56.124 56.125 56.126 56.127 56.128 56.129 56.130 56.131 56.132 56.133
Last modified: August 10, 2007
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