Sec. 503.103. BONDS

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(a) The Texas Small Business Industrial Development Corporation may not issue bonds.
(b) All bonds issued and delivered by the Texas Small Business Industrial Development Corporation before September 1, 1987, and all proceedings authorizing those bonds are incontestable.
(c) Proceeds of bonds issued before September 1, 1987, may be used:
(1) to pay all or part of the cost of a project regardless of whether the cost or project was, before that date, within the definitions of those terms under the Texas Department of Commerce Act, Chapter 374, Acts of the 70th Legislature, Regular Session, 1987; or
(2) for any other purpose authorized by this subtitle.

Added by Acts 2007, 80th Leg., R.S., Ch. 885 , Sec. 3.01, eff. April 1, 2009.

                    
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