THE TEXAS CONSTITUTION. Texas

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      (2) money attributable to bonds heretofore or hereafter issued and sold by the Board for the fund, including proceeds from the issuance and sale of the bonds;

      (3) money received from the sale or resale of lands or rights in lands purchased from those proceeds;

      (4) money received from the sale or resale of lands or rights in lands purchased with other money attributable to the bonds;

      (5) proceeds derived from the sale or other disposition of the Board's interest in contracts for the sale or resale of lands or rights in lands;

      (6) interest and penalties received from the sale or resale of lands or rights in lands;

      (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 СКАЧАТЬ