Tex. Gov't Code § 845.105 · Subchapter B. POWERS AND DUTIES OF BOARD OF TRUSTEES
INDEBTEDNESS; PAYMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board of trustees may:
(1) incur indebtedness;
(2) on the credit of the retirement system, borrow money to pay expenses incident to the system's operation;
(3) renew, extend, or refund its indebtedness; or
(4) issue and sell negotiable promissory notes or negotiable bonds of the system.
(b) A note or bond issued under this section must expressly state that the note or bond is not an obligation of this state.
Notes and commentary — not statutory text
History
Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.105 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1999, 76th Leg., ch. 427, Sec. 48, eff. Dec. 31, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.845.htm
- Text hash
- sha256 dc93ca5ed8b96336e8c686b1e2420e2f5c2381d966ec11b889ae69a1dd715b51
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.