Sec. 1232.1025. ISSUANCE OF BONDS FOR MILITARY FACILITIES. (a) The board may issue and sell bonds in the name of the authority to finance the acquisition or construction of buildings to be used as state military forces facilities.
(b) After receiving a request under Section 437.153, the board shall promptly issue and sell bonds in the name of the authority to provide the requested financing.
(c) The adjutant general shall accomplish its statutory authority as if the property or building were financed by legislative appropriation. The board and the adjutant general shall adopt a memorandum of understanding that defines the division of authority between the board and adjutant general.
(d) On completion of the acquisition or construction, the adjutant general shall lease the building from the authority.
Added by Acts 2007, 80th Leg., R.S., Ch. 1335 (S.B. 1724), Sec. 14, eff. September 1, 2007.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 1217 (S.B. 1536), Sec. 3.09, eff. September 1, 2013.
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