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Texas Statutes (Last Updated: January 4, 2014) |
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GOVERNMENT CODE |
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Title 9. PUBLIC SECURITIES |
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Subtitle G. SPECIFIC AUTHORITY FOR STATE GOVERNMENT TO ISSUE SECURITIES |
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Chapter 1401. BONDS FOR CERTAIN CRIMINAL JUSTICE OR MENTAL HEALTH AND MENTAL RETARDATION FACILITIES |
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Subchapter E. REVENUE BOND PROJECTS |
Sec. 1401.082. REVENUE BOND REPAYMENT AND LEASE AGREEMENT
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(a) In accordance with a lease agreement, the appropriate agency, with money appropriated for the purpose, shall pay to the board an amount the board determines to be sufficient to:
(1) pay the principal of and interest on the bonds issued under Section 1401.061;
(2) maintain a reserve fund necessary to service the debt; and
(3) reimburse the authority for other costs and expenses relating to:
(A) a project; or
(B) the outstanding bonds.
(b) For purposes of this section, a state agency may enter into a lease agreement in the name of and on behalf of the state.
(c) A state agency shall include in its biennial appropriation request an amount sufficient to pay the principal of and interest on outstanding bonds issued under Section 1401.061 for the agency.