THE TEXAS CONSTITUTION
(7) bonuses, income, rents, royalties, and other pecuniary benefits received by the Board from lands;
(8) money received by way of indemnity or forfeiture for the failure of a bidder for the purchase of bonds
to comply with the bid and accept and pay for the bonds or for the failure of a bidder for the purchase of
lands comprising a part of the Veterans' Land Fund to comply with the bid and accept and pay for the
lands;
(9) payments received by the Board under a bond enhancement agreement with respect to the bonds; and
(10) interest received from investments of money in the fund.
(k) The principal of and interest on the general obligation bonds for the benefit of the Veterans' Land
Fund, including payments by the Board under a bond enhancement agreement with respect to principal
of or interest on the bonds, shall be paid out of the money of the Veterans' Land Fund, but the money in
the fund that is not immediately committed to the payment of principal and interest on the bonds, the
purchase of lands, or the payment of expenses may be invested as authorized by law until the money is
needed for those purposes.
(l) The Veterans' Housing Assistance Fund II is a separate and distinct fund from the Veterans' Housing
Assistance Fund. Money in the Veterans' Housing Assistance Fund II shall be administered by the
Veterans' Land Board and shall be used to make home mortgage loans to veterans for housing within
this state in quantities, on terms, and at fixed, variable, floating, or other rates of interest, determined
by the Board and in accordance with rules of the Board. The expenses of the Board in connection with the
issuance of the bonds for the benefit of the Veterans' Housing Assistance Fund II and the making of the
loans may be paid from money in the Veterans' Housing Assistance Fund II.
(m) The Veterans' Housing Assistance Fund II shall consist of:
(1) the Board's interest in home mortgage loans the Board makes to veterans from money in the fund
under the Veterans' Housing Assistance Program established by law;
(2) proceeds derived from the sale or other disposition of the Board's interest in home mortgage loans;
(3) money attributable to bonds issued and sold by the Board to provide money for the fund, including
the proceeds from the issuance and sale of bonds;
(4) income, rents, and other pecuniary benefits received by the Board as a result of making loans;
(5) money received by way of indemnity or forfeiture for the failure of a bidder for the purchase of bonds
to comply with the bid and accept and pay for the bonds;
(6) payments received by the Board under a bond enhancement agreement with respect to the bonds; and
(7) interest received from investments of money.
(n) The principal of and interest on the general obligation bonds for the benefit of the Veterans' Housing
Assistance Fund II, including payments by the Board under a bond enhancement agreement with
respect to principal of or interest on the bonds, shall be paid out of the money of the Veterans' Housing
Assistance Fund II, but the money in the fund that is not immediately committed to the payment of
principal and interest on the bonds, the making of home mortgage loans, or the payment of expenses
may be invested as authorized by law until the money is needed for those purposes.
(o) The Veterans' Housing Assistance Fund shall consist of:
(1) the Board's interest in home mortgage loans the Board makes to veterans from money in the fund
under the Veterans' Housing Assistance Program established by law;
(2) proceeds derived from the sale or other disposition of the Board's interest in home mortgage loans;
(3) money attributable to bonds issued and sold by the Board to provide money for the fund, including
proceeds from the issuance and sale of bonds;
(4) income, rents, and other pecuniary benefits received by the Board as a result of making loans;
(5) money received by way of indemnity or forfeiture for the failure of a bidder for the purchase of bonds
to comply with the bid and accept and pay for the bonds;
(6) payments received by the Board under a bond enhancement agreement with respect to the bonds; and
(7) interest received from investments of money.
(p) The principal of and interest on the general obligation bonds for the benefit of the Veterans' Housing
Assistance Fund, including payments by the Board under a bond enhancement agreement with respect
to principal of or interest on the bonds, shall be paid out of money in the Veterans' Housing Assistance
Fund.
(q) If there is not enough money in the Veterans' Land Fund, the Veterans' Housing Assistance Fund, or
the Veterans' Housing Assistance Fund II, as the case may be, available to pay the principal of and
interest on the general obligation bonds benefiting those funds, including money to make payments by
the Board under a bond enhancement agreement with respect to principal of or interest on the bonds,
there is appropriated out of the first money coming into the treasury in each fiscal year, not otherwise
appropriated by this constitution, an amount that is sufficient to pay the principal of and interest on
the general obligation bonds that mature or become due during that fiscal year or to make bond
enhancement payments with respect to those bonds.
(r) Receipts of all kinds of the Veterans' Land Fund, the Veterans' Housing Assistance Fund, or the
Veterans' Housing Assistance Fund II that the Board determines are not required for the payment of
principal of and interest on the general obligation bonds benefiting those funds, including payments by
the Board under a bond enhancement agreement with respect to principal of or interest on the bonds,
may be used by the Board, to the extent not inconsistent with the proceedings authorizing the bonds to:
(1) make temporary transfers to another of those funds to avoid a temporary cash deficiency in that
fund or make a transfer to another of those funds for the purposes of that fund;
(2) pay the principal of and interest on general obligation bonds issued to provide money for another of
those funds or make bond enhancement payments with respect to the bonds; or
(3) pay the principal of and interest on revenue bonds of the Board or make bond enhancement
payments with respect to the bonds.
(s) If the Board determines that assets from the Veterans' Land Fund, the Veterans' Housing Assistance
Fund, or the Veterans' Housing Assistance Fund II are not required for the purposes of the fund, the
Board may:
(1) transfer the assets to another of those funds;
(2) use the assets to secure revenue bonds issued by the Board;
(3) use the assets to plan and design, operate, maintain, enlarge, or improve veterans cemeteries; or
(4) use the assets to plan and design, construct, acquire, own, operate, maintain, enlarge, improve,
furnish, or equip veterans homes.
(t) The revenue bonds shall be special obligations of the Board and payable only from and secured only
by receipts of the funds, assets transferred from the funds, and other revenues and assets as determined
by the Board and shall not constitute indebtedness of the state or the Veterans' Land Board. The Board
may issue revenue bonds from time to time, which bonds may not exceed an aggregate principal amount
that the Board determines can be fully retired from the receipts of the funds, the assets transferred from
the funds, and the other revenues and assets pledged to the retirement of the revenue bonds.
Notwithstanding the rate of interest specified by any other provision of this constitution, revenue bonds
shall bear a rate or rates of interest the Board determines. A determination made by the Board under
this subsection shall be binding and conclusive as to the matter determined.
(u) The bonds authorized to be issued and sold by the Veterans' Land Board shall be issued and sold in
forms and denominations, on terms, at times, in the manner, at places, and in installments the Board
determines. The bonds shall bear a rate or rates of interest the Board determines. The bonds shall be
incontestable after execution by the Board, approval by the Attorney General of Texas, and delivery to
the purchaser or purchasers of the bonds.
(v) This Amendment being intended only to establish a basic framework and not to be a comprehensive
treatment of the Veterans' Housing Assistance Program and the Veterans' Land Program, there is
hereby reposed in the Legislature full power to implement and effectuate the design and objects of this
Amendment, including the power to delegate such duties, responsibilities, functions, and authority to
the Veterans' Land Board as it believes necessary.
(w) In addition to the general obligation bonds authorized to be issued and to be sold by the Veterans'
Land Board by previous constitutional amendments, the Veterans' Land Board may provide for, issue,
and sell general obligation bonds of the state to provide home mortgage loans to veterans of the state. The
principal amount of outstanding bonds authorized by this subsection may not at any one time exceed
$500 million. The bond proceeds shall be deposited in or used to benefit and augment the Veterans'
Housing Assistance Fund II and shall be administered and invested as provided by law. Payments of
principal and interest on the bonds, including payments made under a bond enhancement agreement
with respect to principal of or interest on the bonds, shall be made from the sources and in the manner
provided by this section for general obligation bonds issued for the benefit of the Veterans' Housing
Assistance Fund II.
(Added Nov. 7, 1946, amended Nov. 13, 1951, Nov. 6, 1956, Nov. 8, 1960, Nov. 6, 1962, Nov. 11, 1967, Nov.
6, 1973, Nov. 8, 1977, Nov. 3, 1981, Nov. 5, 1985, and Nov. 5, 1991; Secs. 49-b, 49-b-1, 49-b-2, and 49-b-3
combined, reenacted as Sec. 49-b and amended Nov. 2, 1999; Subsec. (s) amended and (w) added Nov. 6,
2001; Subsecs. (r) and (s) amended Sept. 13, 2003.) (TEMPORARY TRANSITION PROVISIONS for Sec.
49-b: See Appendix, Note 1.)
(7) bonuses, income, rents, royalties, and other pecuniary benefits received by the Board from lands;
(8) money received by way of indemnity or forfeiture for the failure of a bidder for the purchase of bonds
to comply with the bid and accept and pay for the bonds or for the failure of a bidder for the purchase of
lands comprising a part of the Veterans' Land Fund to comply with the bid and accept and pay for the
lands;
(9) payments received by the Board under a bond enhancement agreement with respect to the bonds; and
(10) interest received from investments of money in the fund.
(k) The principal of and interest on the general obligation bonds for the benefit of the Veterans' Land
Fund, including payments by the Board under a bond enhancement agreement with respect to principal
of or interest on the bonds, shall be paid out of the money of the Veterans' Land Fund, but the money in
the fund that is not immediately committed to the payment of principal and interest on the bonds, the
purchase of lands, or the payment of expenses may be invested as authorized by law until the money is
needed for those purposes.
(l) The Veterans' Housing Assistance Fund II is a separate and distinct fund from the Veterans' Housing
Assistance Fund. Money in the Veterans' Housing Assistance Fund II shall be administered by the
Veterans' Land Board and shall be used to make home mortgage loans to veterans for housing within
this state in quantities, on terms, and at fixed, variable, floating, or other rates of interest, determined
by the Board and in accordance with rules of the Board. The expenses of the Board in connection with the
issuance of the bonds for the benefit of the Veterans' Housing Assistance Fund II and the making of the
loans may be paid from money in the Veterans' Housing Assistance Fund II.
(m) The Veterans' Housing Assistance Fund II shall consist of:
(1) the Board's interest in home mortgage loans the Board makes to veterans from money in the fund
under the Veterans' Housing Assistance Program established by law;
(2) proceeds derived from the sale or other disposition of the Board's interest in home mortgage loans;
(3) money attributable to bonds issued and sold by the Board to provide money for the fund, including
the proceeds from the issuance and sale of bonds;
(4) income, rents, and other pecuniary benefits received by the Board as a result of making loans;
(5) money received by way of indemnity or forfeiture for the failure of a bidder for the purchase of bonds
to comply with the bid and accept and pay for the bonds;
(6) payments received by the Board under a bond enhancement agreement with respect to the bonds; and
(7) interest received from investments of money.
(n) The principal of and interest on the general obligation bonds for the benefit of the Veterans' Housing
Assistance Fund II, including payments by the Board under a bond enhancement agreement with
respect to principal of or interest on the bonds, shall be paid out of the money of the Veterans' Housing
Assistance Fund II, but the money in the fund that is not immediately committed to the payment of
principal and interest on the bonds, the making of home mortgage loans, or the payment of expenses
may be invested as authorized by law until the money is needed for those purposes.
(o) The Veterans' Housing Assistance Fund shall consist of:
(1) the Board's interest in home mortgage loans the Board makes to veterans from money in the fund
under the Veterans' Housing Assistance Program established by law;
(2) proceeds derived from the sale or other disposition of the Board's interest in home mortgage loans;
(3) money attributable to bonds issued and sold by the Board to provide money for the fund, including
proceeds from the issuance and sale of bonds;
(4) income, rents, and other pecuniary benefits received by the Board as a result of making loans;
(5) money received by way of indemnity or forfeiture for the failure of a bidder for the purchase of bonds
to comply with the bid and accept and pay for the bonds;
(6) payments received by the Board under a bond enhancement agreement with respect to the bonds; and
(7) interest received from investments of money.
(p) The principal of and interest on the general obligation bonds for the benefit of the Veterans' Housing
Assistance Fund, including payments by the Board under a bond enhancement agreement with respect
to principal of or interest on the bonds, shall be paid out of money in the Veterans' Housing Assistance
Fund.
(q) If there is not enough money in the Veterans' Land Fund, the Veterans' Housing Assistance Fund, or
the Veterans' Housing Assistance Fund II, as the case may be, available to pay the principal of and
interest on the general obligation bonds benefiting those funds, including money to make payments by
the Board under a bond enhancement agreement with respect to principal of or interest on the bonds,
there is appropriated out of the first money coming into the treasury in each fiscal year, not otherwise
appropriated by this constitution, an amount that is sufficient to pay the principal of and interest on
the general obligation bonds that mature or become due during that fiscal year or to make bond
enhancement payments with respect to those bonds.
(r) Receipts of all kinds of the Veterans' Land Fund, the Veterans' Housing Assistance Fund, or the
Veterans' Housing Assistance Fund II that the Board determines are not required for the payment of
principal of and interest on the general obligation bonds benefiting those funds, including payments by
the Board under a bond enhancement agreement with respect to principal of or interest on the bonds,
may be used by the Board, to the extent not inconsistent with the proceedings authorizing the bonds to:
(1) make temporary transfers to another of those funds to avoid a temporary cash deficiency in that
fund or make a transfer to another of those funds for the purposes of that fund;
(2) pay the principal of and interest on general obligation bonds issued to provide money for another of
those funds or make bond enhancement payments with respect to the bonds; or
(3) pay the principal of and interest on revenue bonds of the Board or make bond enhancement
payments with respect to the bonds.
(s) If the Board determines that assets from the Veterans' Land Fund, the Veterans' Housing Assistance
Fund, or the Veterans' Housing Assistance Fund II are not required for the purposes of the fund, the
Board may:
(1) transfer the assets to another of those funds;
(2) use the assets to secure revenue bonds issued by the Board;
(3) use the assets to plan and design, operate, maintain, enlarge, or improve veterans cemeteries; or
(4) use the assets to plan and design, construct, acquire, own, operate, maintain, enlarge, improve,
furnish, or equip veterans homes.
(t) The revenue bonds shall be special obligations of the Board and payable only from and secured only
by receipts of the funds, assets transferred from the funds, and other revenues and assets as determined
by the Board and shall not constitute indebtedness of the state or the Veterans' Land Board. The Board
may issue revenue bonds from time to time, which bonds may not exceed an aggregate principal amount
that the Board determines can be fully retired from the receipts of the funds, the assets transferred from
the funds, and the other revenues and assets pledged to the retirement of the revenue bonds.
Notwithstanding the rate of interest specified by any other provision of this constitution, revenue bonds
shall bear a rate or rates of interest the Board determines. A determination made by the Board under
this subsection shall be binding and conclusive as to the matter determined.
(u) The bonds authorized to be issued and sold by the Veterans' Land Board shall be issued and sold in
forms and denominations, on terms, at times, in the manner, at places, and in installments the Board
determines. The bonds shall bear a rate or rates of interest the Board determines. The bonds shall be
incontestable after execution by the Board, approval by the Attorney General of Texas, and delivery to
the purchaser or purchasers of the bonds.
(v) This Amendment being intended only to establish a basic framework and not to be a comprehensive
treatment of the Veterans' Housing Assistance Program and the Veterans' Land Program, there is
hereby reposed in the Legislature full power to implement and effectuate the design and objects of this
Amendment, including the power to delegate such duties, responsibilities, functions, and authority to
the Veterans' Land Board as it believes necessary.
(w) In addition to the general obligation bonds authorized to be issued and to be sold by the Veterans'
Land Board by previous constitutional amendments, the Veterans' Land Board may provide for, issue,
and sell general obligation bonds of the state to provide home mortgage loans to veterans of the state. The
principal amount of outstanding bonds authorized by this subsection may not at any one time exceed
$500 million. The bond proceeds shall be deposited in or used to benefit and augment the Veterans'
Housing Assistance Fund II and shall be administered and invested as provided by law. Payments of
principal and interest on the bonds, including payments made under a bond enhancement agreement
with respect to principal of or interest on the bonds, shall be made from the sources and in the manner
provided by this section for general obligation bonds issued for the benefit of the Veterans' Housing
Assistance Fund II.
(Added Nov. 7, 1946, amended Nov. 13, 1951, Nov. 6, 1956, Nov. 8, 1960, Nov. 6, 1962, Nov. 11, 1967, Nov.
6, 1973, Nov. 8, 1977, Nov. 3, 1981, Nov. 5, 1985, and Nov. 5, 1991; Secs. 49-b, 49-b-1, 49-b-2, and 49-b-3
combined, reenacted as Sec. 49-b and amended Nov. 2, 1999; Subsec. (s) amended and (w) added Nov. 6,
2001; Subsecs. (r) and (s) amended Sept. 13, 2003.) (TEMPORARY TRANSITION PROVISIONS for Sec.
49-b: See Appendix, Note 1.)
| Our law firm has handled thousands of criminal charges including: Juvenile Law, Family Violence, Assault, Drug Charges, Theft, Shoplifting, Possession of Marijuana, Felonies, Misdemeanors, Failure to Stop and Give Information, Reckless Driving, Possession of a Controlled Substance, Possession of Cocaine, Motions to Revoke Probation or Deferred Adjudication, Burglary of a Building or Habitation, Runaway, Truancy, Vandalism. We have helped thousands of people get their cases dismissed, reduced, or kept off their records and we can help you. Please call today 713-697-4373 |
| .b |
| Any time you are charged with a criminal charge it is a very serious matter requiring a criminal lawyer. Long term effects can include a criminal record FOR LIFE, affect your ability to get a job, obtain credit including denial of a mortgage application, loss of your Driver's License, surcharges on your License......and the list goes on and on. These can be avoided with a good Houston Criminal Defense Lawyer. |
| ANDY NOLEN HOUSTON CRIMINAL LAWYER OVER 17 YEARS CRIMINAL LAW EXPERIENCE LICENSED IN BOTH STATE AND FEDERAL COURT |
| . |
| The Houston, Texas, law firm of Andy Nolen, represents people who have been accused of a state crime in Texas, including in communities such as League City, Angleton, Pearland, Alvin, Clear Lake, Sugar Land, The Woodlands, Baytown, Pasadena, Memorial, Spring Branch, River Oaks, West University, and Bellaire. Counties that this firm serves include: Galveston County • Fort Bend County • Montgomery County • Brazoria County • Harris County. Cases handled include: Domestic Violence, Theft, Shoplifting, Drunk Driving, Evading Arrest. All misdemeanors including DWI, also called DUI and all Felonies. |
| ARE YOU FACING A CRIMINAL CHARGE? If so, you need a lawyer with experience in criminal courts. Houston Criminal Attorney Andy Nolen has over 17 years criminal defense experience. |
| LOCAL WEB LINKS Houston Criminal Defense Attorneys Solving Problems Andy Nolen Helping People in Court Houston Drug Charges and Rehabilitation Houston Defense Lawyers |
