Texas Const. art. III, § 49-m

Texas Constitution

Article III, § 49-m — SHORT-TERM NOTES AND LOANS FOR TEXAS DEPARTMENT OF TRANSPORTATION FUNCTIONS

This text of Texas Const. art. III, § 49-m (SHORT-TERM NOTES AND LOANS FOR TEXAS DEPARTMENT OF TRANSPORTATION FUNCTIONS) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

JurisdictionTexas DocumentConstitution

ArticleIII

Section§ 49-m

CitationTexas Const. art. III, § 49-m

Bluebook

Tex. Const. art. III, § 49-m.

Full Text

(a) The legislature, by law, may authorize the Texas Transportation Commission or its successor to authorize the Texas Department of Transportation or its successor to issue notes or borrow money from any source to carry out the functions of the department. (b) Notes issued or a loan obtained under this section may not have a term of more than two years. The legislature may appropriate money dedicated by Sections 7-a and 7-b, Article VIII, of this constitution for the purpose of paying a debt created by the notes or loan.

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(a) The legislature, by law, may authorize the Texas Transportation Commission or its successor to authorize the Texas Department of Transportation or its successor to issue notes or borrow money from any source to carry out the functions of the department. (b) Notes issued or a loan obtained under this section may not have a term of more than two years. The legislature may appropriate money dedicated by Sections 7-a and 7-b, Article VIII, of this constitution for the purpose of paying a debt created by the notes or loan.

History

Added Sept. 13, 2003.

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Texas Const. art. III, § 49-m, Counsel Stack Legal Research, https://law.counselstack.com/constitution/tx/III/49-m.