Texas Education Code
§ 52.11 — ISSUANCE OF BONDS
ED § 52.11Title 3. HIGHER EDUCATION · Part A. HIGHER EDUCATION IN GENERAL · Ch. 52. STUDENT LOAN PROGRAM · Art. B. BONDS
Statute text
View on source(a)The board may from time to time provide by resolution for the issuance of negotiable bonds in a total aggregate amount not exceeding $285 million.
(b)All bonds shall be on a parity and shall be called the Texas College Student Loan Bonds.
(c)The proceeds from the sale of bonds shall be placed in the student loan auxiliary fund.
(d)To assure the orderly and economical marketing of the bonds and the reasonable availability of money in the student loan auxiliary fund, the bonds may be issued in installments.
(e)The bonds of each issue shall be dated and shall bear interest at rates prescribed by the board, subject to the limitations imposed by law. At the option of the board, the interest may be payable annually or semiannually.
(f)The bonds shall mature serially or otherwise not later than 40 years from their date and may be redeemable before maturity, at the option of the board, at a price or prices and under terms and conditions fixed by the board in the resolution providing for the issuance of the bonds.
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Legislative history
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 1, eff. September 1, 2019.