Tex. Const., Notes on Temporary Provisions, note 2 · Part. Notes on Temporary Provisions for Adopted Amendments
H.J.R. No. 58, Section 3, 76th Legislature, Regular Session, 1999.
Text — Current through the amendments approved by voters in November 2025
TEMPORARY PROVISION. (a) The amendment of Section 18, Article VII, of this constitution adopted in 1999 does not impair any obligation created by the issuance of bonds or notes in accordance with that section before January 1, 2000, and all outstanding bonds and notes validly issued under that section remain valid, enforceable, and binding and shall be paid in full, both principal and interest, in accordance with their terms and from the sources pledged to their payment. In order to ensure that the amendment of that section does not impair any obligation created by the issuance of those bonds and notes, there shall be distributed from the income, investment returns, or other assets of the permanent university fund to the available university fund during each fiscal year an amount at least equal to the amount necessary to pay the principal and interest due and owing during the fiscal year on those bonds and notes.
(b) This section expires January 1, 2030.
Source of truth
- Edition
- Current through the amendments approved by voters in November 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/CN/htm/CN.AP.htm
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- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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