Tex. Gov't Code § 845.105

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 845.105 - Indebtedness; Payment

(a) The board of trustees may:

(1) incur indebtedness;

(2) on the credit of the retirement system, borrow money to pay expenses incident to the system's operation;

(3) renew, extend, or refund its indebtedness; or

(4) issue and sell negotiable promissory notes or negotiable bonds of the system.

(b) A note or bond issued under this section must expressly state that the note or bond is not an obligation of this state.

Tex. Gov't. Code § 845.105

Amended by Acts 1999, 76th Leg., ch. 427, Sec. 48, eff. 12/31/1999.

Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. 9/1/1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 55.105 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. 9/1/1989.