Texas Natural Resources Code Title 7, Chapter 162 - Veterans' Housing Assistance Program
SUBCHAPTER A GENERAL PROVISIONS
- Texas Section 162.001 - Definitions
(a) In this chapter: (1) "Board" means the Veterans' Land Board. (2) "Fund" means the veterans' housing assistance fund. (3) "Home" means a dwelling within...
- Texas Section 162.002 - Money And Interests Included In The Veterans' Housing Assistance Fund
(a) The veterans' housing assistance fund shall include: (1) any interest of the board in home mortgage loans made from money in the fund to...
- Texas Section 162.003 - Administration
(a) The board shall administer the veterans' housing assistance fund and the Veterans' Housing Assistance Program in accordance with this chapter. (1) The board may...
- Texas Section 162.004 - Investments Of Certain Money In The Veterans' Housing Assistance Fund
Money in the fund that is not immediately committed to the payment of principal and interest on bonds issued by the board to provide money...
- Texas Section 162.0041 - Custody And Investment Of Assets Pending Transactions
With the approval of the comptroller, the board, in managing the assets of the fund, pending the completion of an investment transaction, may: (1) select...
- Texas Section 162.0042 - Lending Securities
(a) In managing the assets of the fund, the board may: (1) select one or more commercial banks, depository trust companies, or other entities to...
- Texas Section 162.005 - Sale Of Loans
(a) Notwithstanding any other provision of this chapter, the board may sell at public or private sale, with or without public bidding, any or all...
SUBCHAPTER B VETERANS' HOUSING ASSISTANCE PROGRAM
- Texas Section 162.006 - Temporary Transfers
Amounts temporarily transferred from either veterans' housing assistance fund to the veterans' land fund or to the other veterans' housing assistance fund under the Texas...
- Texas Section 162.011 - Loans
(a) The board shall make or acquire loans with money from the veterans' housing assistance fund in accordance with this chapter and the rules adopted...
- Texas Section 162.013 - Interest Rate
A loan under this chapter shall bear a fixed, variable, floating, or other rate or rates of interest determined by the board. The board may...
- Texas Section 162.014 - Security For The Loan
No disbursement of funds on a loan shall be made unless the loan is secured by a mortgage, deed of trust, or other lien on...
- Texas Section 162.015 - Initial Payment Or Equity
The board may require an initial payment on a loan or may require an investment in the home by the veteran in an amount or...
- Texas Section 162.016 - Time Limit On Transfer
(a) A home or any interest therein, against which there is a mortgage, deed of trust, or any other lien securing a loan under this...
- Texas Section 162.017 - Foreclosure And Resale
The board shall adopt rules providing for the procedures and the rules for foreclosure and resale of homes financed with a loan under this chapter....
- Texas Section 162.018 - Interest Rate On Delinquent Principal And Interest
Principal and interest that become delinquent shall bear interest at a rate fixed by the board. Added by Acts 1983, 68th Leg., p. 547, ch....
SUBCHAPTER C BONDS
- Texas Section 162.019 - Enforcement Of Forfeiture And Protection Of Rights
The board may request the attorney general to take whatever action is necessary to protect the rights of the state and the veterans' housing assistance...
- Texas Section 162.031 - Issuance And Sale Of Bonds; Disposition Of Proceeds
(a) By appropriate action, the board may provide by resolution for the issuance and sale of negotiable bonds authorized by the constitution, and the proceeds...
- Texas Section 162.032 - Installments
The board may issue bonds in one or several installments. Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1.
- Texas Section 162.033 - Interest Rate
The bonds shall bear the rate of interest prescribed by the board. Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1.
- Texas Section 162.034 - Payment And Maturity Of Bonds
(a) The bonds shall be payable as provided by the board and shall mature serially or otherwise not later than 40 years from the date...
- Texas Section 162.035 - Form, Denomination, And Place Of Payment Of Bonds
The board shall determine the terms of the bonds and the form of the bonds, including the forms of interest coupons attached to the bonds,...
- Texas Section 162.036 - Manner Of Execution
(a) The bonds shall be executed by and on behalf of the board and the state as obligations of the state in the manner provided...
- Texas Section 162.037 - Signatures And Seals
(a) The resolution authorizing the issuance of an installment or series of bonds may prescribe the extent to which facsimile signatures and facsimile seals may...
- Texas Section 162.038 - Approval By Attorney General
Before the bonds are delivered to the purchasers, the record relating to the bonds shall be examined by the attorney general. If the record demonstrates...
- Texas Section 162.039 - Registration With Comptroller
After the bonds are approved by the attorney general, they shall be registered in the office of the comptroller of public accounts. Added by Acts...
- Texas Section 162.040 - Validity Of Bonds
(a) After the bonds are approved by the attorney general and registered with the comptroller of public accounts, they shall be held as valid and...
- Texas Section 162.041 - Bonds As Negotiable Instruments
Bonds issued under this chapter have and are declared to have all qualities and incidents of negotiable instruments under the laws of this state. Added...
- Texas Section 162.042 - Notice For Bids On Bonds
If the board authorizes the issuance of a series of bonds and decides to call for bids, it shall publish an appropriate notice at least...
- Texas Section 162.043 - Security For Bid
The board may require bidders to accompany their bids with exchange or bank cashier's checks in an amount considered adequate by the board to be...
- Texas Section 162.044 - Sale Of Bonds
Bonds may be sold at public or private sale at a price or prices and on terms determined by the board. Added by Acts 1983,...
- Texas Section 162.045 - Replacement Bonds
The board may provide for replacement of bonds that are mutilated, lost, or destroyed. Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec.
- Texas Section 162.046 - Refunding Bonds
The board may provide by resolution for issuance of refunding bonds for the purpose of refunding outstanding bonds issued under this chapter together with accrued...
- Texas Section 162.047 - Bonds As Investments And Security
(a) Bonds issued under this chapter are legal and authorized investments for banks, savings banks, trust companies, building and loan associations, insurance companies, fiduciaries, trustees,...
- Texas Section 162.048 - Taxation Of Bonds
The bonds are exempt from any tax by the state and by cities, towns, villages, counties, school districts, and other political subdivisions and public agencies...
- Texas Section 162.049 - Payment Of Principal And Interest
The comptroller shall pay the principal on bonds as they mature and the interest as it becomes payable. Payments shall be made at the place...
- Texas Section 162.050 - Constitutional Appropriations
(a) If, during the existence of the fund or during the time any general obligation bonds are payable from the fund, the board determines that...
- Texas Section 162.051 - Purchase And Destruction Of Bonds
(a) The board may use money in the fund to purchase on the open market any bonds it has issued and sold to provide money...
- Texas Section 162.052 - Bond Enhancement Agreements
(a) The board may at any time and from time to time enter into one or more bond enhancement agreements that the board determines to...
Last modified: September 28, 2016