Section 1401.041 - General Obligation Bonds(a) As provided by Section 49-h( a), Article III, Texas Constitution, as that section existed September 1, 1999, the authority may: (1) issue general obligation bonds in an amount not to exceed $500 million; and(2) distribute the bond proceeds as provided by that section.(b) As provided by Section 49-h(c), Article III, Texas Constitution, as that section existed September 1, 1999, the authority may: (1) issue general obligation bonds in an amount not to exceed $400 million; and (2) distribute the bond proceeds to any appropriate agency to: (A) acquire, construct, or equip a new facility; or (B) make a major repair of or renovate a facility, corrections institution, youth corrections institution, mental health institution, or intellectual disability institution. (c) As provided by Section 49-h(d), Article III, Texas Constitution, as that section existed September 1, 1999, the authority may: (1) issue general obligation bonds in an amount not to exceed $1.055 billion and distribute the bond proceeds to any appropriate agency to: (A) acquire, construct, or equip a: (i) new prison or substance abuse felony punishment facility to confine criminals; or (ii) youth corrections institution; (B) make a major repair of or renovate a prison facility or youth corrections institution; or (C) acquire, make a major repair of, or renovate a facility for use as a state prison, a substance abuse felony punishment facility, or a facility in which a pilot program established as provided by Section 614.011, Health and Safety Code, is conducted; (2) issue general obligation bonds in an amount not to exceed $45 million and distribute the bond proceeds to any appropriate agency to: (A) acquire, construct, or equip a new mental health facility or intellectual disability facility, including a community-based mental health facility or community-based intellectual disability facility; or (B) make a major repair of or renovate a mental health facility or intellectual disability facility; and (3) issue general obligation bonds in an amount not to exceed $50 million and distribute the bond proceeds to any appropriate agency to: (A) acquire, construct, or equip a new youth corrections facility; or (B) make a major repair of or renovate a youth corrections facility. (d) As provided by Section 49-h(e), Article III, Texas Constitution, as that section existed September 1, 1999, the authority may:(1) issue general obligation bonds in an amount not to exceed $1 billion; and(2) distribute the bond proceeds as provided by that section.Tex. Gov't. Code § 1401.041
Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 30,Sec. 5.22, eff. 9/1/2023.Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.017, eff. 9/1/2001.Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.