reglab/statecodes huggingface dataset:
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter C. Powers and Duties › Section 161.071. Pamphlets

Sec. 161.071.  PAMPHLETS.  The board shall have published pamphlets containing the provisions of this chapter and rules the board desires, and these pamphlets shall be made available to any interested veteran, veterans organization, or other interested person in the state.
Acts 1977, 65th Leg., p. 2658, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter C. Powers and Duties › Section 161.072. Lease by Board

Sec. 161.072.  LEASE BY BOARD.  (a)  The board may lease any property that it owns on terms it considers proper.
(b)  A lease for agricultural and grazing purposes is subject to cancellation on the sale of the property to a veteran.
(c)  The board may execute oil, gas, and mineral leases on land purchased by it before it sells the land by following the same procedure provided for the school land board in the lease of public school land.
Acts 1977, 65th Leg., p. 2658, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter C. Powers and Duties › Section 161.073. Contracts With Private Entities

Sec. 161.073.  CONTRACTS WITH PRIVATE ENTITIES.  The board may contract with a private entity to administer all or part of the program if it is cost effective to do so.
Added by Acts 1985, 69th Leg., ch. 798, Sec. 6, eff. Sept. 1, 1985.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter C. Powers and Duties › Section 161.074. Bond Enhancement Agreements

Sec. 161.074.  BOND ENHANCEMENT AGREEMENTS.  (a)  The board may at any time and from time to time enter into one or more bond enhancement agreements that the board determines to be necessary or appropriate to place the obligation of the board, as represented by the bonds, in whole or in part, on the interest rate, currency, cash flow, or other basis desired by the board.  Bond enhancement agreements may include, on terms and conditions approved by the board, interest rate swap agreements, currency swap agreements, forward payment conversion agreements, agreements providing for payments based on levels of or changes in interest rates or currency exchange rates, agreements to exchange cash flows or a series of payments, or agreements, including options, puts, or calls, to hedge payment, currency, rate, spread, or other exposure.  A bond enhancement agreement is an agreement for professional services and shall contain the terms and conditions and be for the period that the board approves.  The fees and expenses of the board in connection with the issuance of bonds and the purchase and sale of land may be paid from money in the fund, provided that payments due from the board under a bond enhancement agreement, other than fees and expenses, that relate to the payment of debt service on bonds constitute payments of principal of and interest on the bonds.
(b)  The resolution of the board authorizing a bond enhancement agreement may authorize one or more designated officers or employees of the board to act on behalf of the board in entering into and delivering the bond enhancement agreement and in determining or setting the counterparty and terms of the bond enhancement agreement specified in the resolution, except that the resolution must set the maximum amount and term for the bond enhancement agreement.
(c)  Unless the board elects otherwise in its approval of a bond enhancement agreement, the bond enhancement agreement is not a credit agreement for purposes of Chapter 1371, Government Code, regardless of whether the bonds relating to the bond enhancement agreement were issued in part under that law.
Added by Acts 1993, 73rd Leg., ch. 242, Sec. 1.03, eff. Aug. 30, 1993.  Amended by Acts 1999, 76th Leg., ch. 134, Sec. 1, eff. May 20, 1999;  Acts 2001, 77th Leg., ch. 1420, Sec. 8.354, eff. Sept. 1, 2001.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter C. Powers and Duties › Section 161.075. Information for Lending Institutions

Sec. 161.075.  INFORMATION FOR LENDING INSTITUTIONS.  (a)  In this section, "lending institution" has the meaning assigned by Section 161.502.
(b)  On request, the board shall provide to a lending institution information regarding state land and housing benefits programs for veterans in this state.
Added by Acts 2003, 78th Leg., ch. 69, Sec. 3, eff. May 16, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter C. Powers and Duties › Section 161.076. Memorandum of Understanding

Sec. 161.076.  MEMORANDUM OF UNDERSTANDING.  (a)  The board shall enter into a memorandum of understanding with the commission.  The memorandum of understanding must specify the guidelines, powers, and duties necessary for the board and the commission to coordinate veterans benefits outreach activities.
(b)  The memorandum of understanding must address board and commission coordination with respect to the following veterans benefits outreach activities:
(1)  operation by the board of a consolidated communications center;
(2)  combined direct mail efforts;
(3)  sharing veterans contact databases;
(4)  dissemination of information through integrated websites and a joint brochure;
(5)  veterans benefits seminars; and
(6)  any other veterans benefits outreach activity determined by the board and the commission to be appropriate for coordination by those agencies.
(c)  The memorandum of understanding must identify the joint and separate powers and duties of the board and the commission as necessary to implement coordinated veterans benefits outreach activities, including powers and duties relating to:
(1)  reimbursements for coordinated activities;
(2)  the management and funding of a consolidated communications center;
(3)  operating expenses associated with the coordinated activities, including expenses relating to office space, printing, and postage;
(4)  the development and maintenance of integrated web services regarding veterans benefits and services;
(5)  the development and dissemination of a joint brochure regarding veterans benefits and services; and
(6)  joint presentations at or sponsorship of veterans benefits seminars.
(d)  The commission and the board shall periodically update the memorandum of understanding and continue to explore additional opportunities for coordination between the agencies regarding their respective veterans benefits outreach activities.
(e)  The commission and the board shall consider the appropriate use of authorized bond proceeds and federal money to ensure that each agency complies with applicable funding constraints in entering into the memorandum of understanding.
Added by Acts 2007, 80th Leg., R.S., Ch. 334 (H.B. 3140), Sec. 4, eff. June 15, 2007.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter C. Powers and Duties › Section 161.077. Communications Center

Sec. 161.077.  COMMUNICATIONS CENTER.  (a)  Based on the memorandum of understanding described by Section 161.076, the board shall operate a consolidated communications center to provide information regarding the benefits and services available to veterans of this state, including benefits and services offered by the board and the commission.
(b)  In operating the communications center, employees must be knowledgeable about the functions of the center and be able to access information regarding all available veterans benefits and services and shall:
(1)  answer the veterans toll-free hotline;  and
(2)  disseminate to veterans, including newly discharged veterans, information regarding the benefits and services, as appropriate.
Added by Acts 2007, 80th Leg., R.S., Ch. 334 (H.B. 3140), Sec. 4, eff. June 15, 2007.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter C. Powers and Duties › Section 161.078. Website; Brochure

Sec. 161.078.  WEBSITE; BROCHURE.  (a)  Based on the memorandum of understanding described by Section 161.076, the board shall integrate web services and develop a hard-copy brochure that provides in a centralized, comprehensive, and simplified format information about all available veterans benefits and services, including benefits and services offered by the board and the commission.  In integrating web services, the board shall develop a single entry point to allow public access to information related to all available veterans benefits and services.
(b)  This section does not preclude the board or commission from operating additional websites or disseminating other information as determined appropriate by the board or the commission, in accordance with the memorandum of understanding provided under Section 161.076.
Added by Acts 2007, 80th Leg., R.S., Ch. 334 (H.B. 3140), Sec. 4, eff. June 15, 2007.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter C. Powers and Duties › Section 161.079. Benefits Seminars

Sec. 161.079.  BENEFITS SEMINARS.  (a)  To ensure that the veterans of this state receive uniform information on all veterans benefits and services available, the board and the commission shall:
(1)  jointly plan and provide state-sponsored veterans benefits seminars; and
(2)  coordinate the involvement of each agency in seminars hosted for veterans by other organizations.
(b)  Planning and coordination under this section must ensure the consistent presentation of benefits and services information by the board or the commission at seminars described by this section.
Added by Acts 2007, 80th Leg., R.S., Ch. 334 (H.B. 3140), Sec. 4, eff. June 15, 2007.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter C. Powers and Duties › Section 161.080. Confidentiality of Certain Information

Sec. 161.080.  CONFIDENTIALITY OF CERTAIN INFORMATION.  (a)  This section applies only to:
(1)  a veteran or a family member of the veteran who applies for or receives any benefits or services offered by the board; or
(2)  a current member of:
(A)  the armed forces of the United States, including a reserve component; or
(B)  the Texas military forces, as that term is defined by Section 437.001, Government Code.
(b)  Except as provided by Subsection (c), the following information received or maintained by the board that relates to a person to whom this section applies is confidential and not subject to disclosure under Chapter 552, Government Code:
(1)  name;
(2)  home address;
(3)  telephone number;
(4)  e-mail address;
(5)  emergency contact information;
(6)  social security number; or
(7)  any other information that reveals whether the person has family members.
(c)  The board may disclose the information described by Subsection (b) to:
(1)  a federal agency, state agency, political subdivision of this state, or private vendor contracted by the board for the purpose of administering any benefits or services offered by the board for veterans or the family members of veterans; or
(2)  any person with the written consent of a person to whom this section applies if:
(A)  the information is disclosed for the purpose specified in the written consent; and
(B)  the disclosed information relates to the consenting person.
(d)  Information disclosed under Subsection (c) is not subject to disclosure under Chapter 552, Government Code, and the disclosure does not constitute a voluntary disclosure to the public by the board for purposes of Section 552.007, Government Code.
(e)  To the extent of any conflict between this section and Section 552.137, Government Code, this section prevails.
Added by Acts 2023, 88th Leg., R.S., Ch. 472 (H.B. 562), Sec. 1, eff. June 10, 2023.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.111. Issuance and Sale of Bonds; Disposition of Proceeds

Sec. 161.111.  ISSUANCE AND SALE OF BONDS;  DISPOSITION OF PROCEEDS.  By appropriate action, the board may provide by resolution for the issuance and sale of negotiable bonds authorized by the constitution, and the proceeds shall be a part of the fund.
Acts 1977, 65th Leg., p. 2659, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.112. Installments

Sec. 161.112.  INSTALLMENTS.  The board, at its option, may issue bonds in one or several installments.
Acts 1977, 65th Leg., p. 2659, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.113. Interest Rate

Sec. 161.113.  INTEREST RATE.  The bonds shall bear the rate or rates of interest prescribed by the board.
Acts 1977, 65th Leg., p. 2659, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.05, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.114. Payment and Maturity of Bonds

Sec. 161.114.  PAYMENT AND MATURITY OF BONDS.  (a)  The bonds shall be payable as provided by the board and shall mature serially or otherwise not later than 40 years from their date.
(b)  Bonds previously issued shall mature according to their provisions.
(c)  The board shall determine the medium of payment for both principal of and interest on the bonds.
(d)  The board at its own option may make the bonds redeemable or subject to tender for purchase before maturity at the price and under the terms and conditions fixed by the board in the resolution providing for the issuance and sale of the bonds.
Acts 1977, 65th Leg., p. 2659, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.06, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.115. Form, Denomination, and Place of Payment of Bonds

Sec. 161.115.  FORM, DENOMINATION, AND PLACE OF PAYMENT OF BONDS.  The board shall determine the form of the bonds, including the forms of interest coupons attached to the bonds, and shall fix the denomination or denominations of the bonds and the place or places for payment of the principal of and interest on the bonds.
Acts 1977, 65th Leg., p. 2659, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.116. Manner of Execution

Sec. 161.116.  MANNER OF EXECUTION.  (a)  The bonds shall be executed by and on behalf of the board and the state as obligations of the state in the manner provided in Subsection (b) of this section.
(b)  The bonds shall be signed and executed as the board provides in the resolution or order authorizing the issuance of the bonds.
Acts 1977, 65th Leg., p. 2659, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.07, eff. Aug. 30, 1993;  Acts 1993, 73rd Leg., ch. 300, Sec. 36, eff. Aug. 30, 1993;  Acts 2001, 77th Leg., ch. 620, Sec. 1, eff. Sept. 1, 2001.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.117. Signatures and Seals

Sec. 161.117.  SIGNATURES AND SEALS.  (a)  The resolution authorizing the issuance of an installment or series of bonds may prescribe the extent to which facsimile signatures and facsimile seals may be used in lieu of manual signatures and manually impressed seals in executing the bonds and attached coupons.
(b)  Interest coupons may be signed with the facsimile signatures of the chairman and secretary of the board.
(c)  If an officer whose manual or facsimile signature appears on a bond, or whose facsimile signature appears on a coupon, ceases to be an officer before the bonds are delivered, the signature shall still be valid and sufficient for all purposes the same as if the officer had remained in office until the delivery of the bonds.
Acts 1977, 65th Leg., p. 2660, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.118. Approval by Attorney General

Sec. 161.118.  APPROVAL BY ATTORNEY GENERAL.  Before bonds are delivered to the purchasers, the record relating to the bonds shall be examined by the attorney general.  If the record demonstrates that the bonds have been issued in accordance with the constitution and this subchapter, the bonds shall be approved by the attorney general.
Acts 1977, 65th Leg., p. 2660, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.08, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.119. Registration With Comptroller

Sec. 161.119.  REGISTRATION WITH COMPTROLLER.  After the bonds are approved by the attorney general, they shall be registered in the office of the comptroller.
Acts 1977, 65th Leg., p. 2660, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.09, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.120. Validity of Bonds

Sec. 161.120.  VALIDITY OF BONDS.  (a)  After the bonds are approved by the attorney general and registered with the state comptroller, they shall be held as valid and binding obligations of the state in every action, suit, or proceeding in which their validity is or may be brought into question.
(b)  In each action brought to enforce collection of the bonds or rights incident to the bonds, the certificate of approval by the attorney general or a certified copy of that certificate shall be admitted and received in evidence as to the validity of the bonds.
(c)  The only defense that can be offered against the validity of the bonds shall be forgery or fraud.
Acts 1977, 65th Leg., p. 2660, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.121. Bonds as Negotiable Instruments

Sec. 161.121.  BONDS AS NEGOTIABLE INSTRUMENTS.  Bonds issued under this chapter have and are declared to have all qualities and incidents of negotiable instruments under the laws of this state.
Acts 1977, 65th Leg., p. 2660, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.123. Notice for Bids on Bonds

Sec. 161.123.  NOTICE FOR BIDS ON BONDS.  If the board authorizes the issuance of a series of bonds and decides to call for bids, it shall publish an appropriate notice at least one time not less than 10 days before the date of the sale in a recognized financial journal of general circulation.
Acts 1977, 65th Leg., p. 2660, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.10, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.124. Security for Bid

Sec. 161.124.  SECURITY FOR BID.  The board may require bidders to accompany their bids with exchange or bank cashier's checks in an amount considered adequate by the board to be a forfeit guaranteeing the acceptance and payment for bonds covered by the bids and accepted by the board.
Acts 1977, 65th Leg., p. 2661, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.11, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.125. Sale of Bonds

Sec. 161.125.  SALE OF BONDS.  Bonds may be sold at public or private sale at a price or prices and on terms determined by the board.
Acts 1977, 65th Leg., p. 2661, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.12, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.126. Replacement Bonds

Sec. 161.126.  REPLACEMENT BONDS.  The board may provide for replacement of bonds that are mutilated, lost, or destroyed.
Acts 1977, 65th Leg., p. 2661, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.127. Refunding Bonds

Sec. 161.127.  REFUNDING BONDS.  (a)  The board may provide by resolution for issuance of refunding bonds for the purpose of refunding outstanding bonds issued under this chapter together with accrued interest on the bonds.
(b)  As far as applicable, the preceding provisions of this subchapter shall govern:
(1)  the issuance of the refunding bonds;
(2)  the maturities and other details of the refunding bonds;
(3)  the rights of bondholders;  and
(4)  the duties of the board with respect to the refunding bonds.
Acts 1977, 65th Leg., p. 2661, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.128. Bonds as Investments and Security

Sec. 161.128.  BONDS AS INVESTMENTS AND SECURITY.  (a)  Bonds issued under this chapter are legal and authorized investments for banks, savings banks, trust companies, building and loan associations, insurance companies, fiduciaries, trustees, guardians, and for the sinking funds of cities, towns, villages, counties, school districts, and other political subdivisions and public agencies of the state.
(b)  The bonds are legal and sufficient security for the deposits in the amount of the par value of the bonds.
Acts 1977, 65th Leg., p. 2661, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.13, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.129. Taxation of Bonds

Sec. 161.129.  TAXATION OF BONDS.  Bonds are exempt from any tax by the state and by cities, towns, villages, counties, school districts, and other political subdivisions and public agencies of the state.
Acts 1977, 65th Leg., p. 2661, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.14, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.130. Constitutional Appropriations

Sec. 161.130.  CONSTITUTIONAL APPROPRIATIONS.  (a)  If during the existence of the fund or during the time general obligation bonds are payable from the fund the board determines that there will not be sufficient money in the fund during the following biennium available to pay principal of or interest on the bonds that are to come due and to be paid from the fund during that biennium, the comptroller shall transfer to the fund the first money coming into the State Treasury not otherwise appropriated by the constitution in amounts sufficient to pay the obligations.
(b)  The money appropriated shall be used to pay the obligations only if at the time the principal or interest actually become due there is not sufficient money in the fund available to pay the amount due.
Added by Acts 1993, 73rd Leg., ch. 242, Sec. 1.15, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.131. Minority-Owned Businesses

Sec. 161.131.  MINORITY-OWNED BUSINESSES.  (a)  The board shall make a good faith effort to award to minority-owned businesses:
(1)  contracts relating to the issuance of bonds by the board under this chapter in the amount of at least 20 percent of the total costs of issuing those bonds;  and
(2)  contracts for the items to be financed by bonds issued by the board in the amount of at least 20 percent of the proceeds of those bonds.
(b)  Repealed by Acts 2011, 82nd Leg., R.S., Ch. 1083, Sec. 25(134), eff. June 17, 2011.
(c)  In this section:
(1)  "Minority-owned business" means a business entity at least 51 percent of which is owned by members of a minority group or, in the case of a corporation, at least 51 percent of the shares of which are owned by members of a minority group, and that is managed and controlled by members of a minority group in its daily operations.
(2)  "Minority group" includes:
(A)  African Americans;
(B)  American Indians;
(C)  Asian Americans;  and
(D)  Mexican Americans and other Americans of Hispanic origin.
Added by Acts 1993, 73rd Leg., ch. 242, Sec. 1.15, eff. Aug. 30, 1993.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1083 (S.B. 1179), Sec. 25(134), eff. June 17, 2011.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter D. General Obligation Bonds › Section 161.132. Women-Owned Businesses

Sec. 161.132.  WOMEN-OWNED BUSINESSES.  (a)  The board shall make a good faith effort to award to women-owned businesses:
(1)  contracts relating to the issuance of bonds by the board under this chapter in the amount of at least 10 percent of the total costs of issuing those bonds;  and
(2)  contracts for the items to be financed by bonds issued by the board in the amount of at least 10 percent of the proceeds of those bonds.
(b)  Repealed by Acts 2011, 82nd Leg., R.S., Ch. 1083, Sec. 25(135), eff. June 17, 2011.
(c)  In this section:
(1)  "Women-owned business" means a business entity at least 51 percent of which is owned by women or, in the case of a corporation, at least 51 percent of the shares of which are owned by women, and that is managed and controlled by women in its daily operations.
(2)  "Minority group" includes:
(A)  African Americans;
(B)  American Indians;
(C)  Asian Americans;  and
(D)  Mexican Americans and other Americans of Hispanic origin.
Added by Acts 1993, 73rd Leg., ch. 242, Sec. 1.15, eff. Aug. 30, 1993.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1083 (S.B. 1179), Sec. 25(135), eff. June 17, 2011.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter E. Veterans' Land Fund › Section 161.171. Money and Land Included in Fund

Sec. 161.171.  MONEY AND LAND INCLUDED IN FUND.  (a)  The veterans' land fund shall include:
(1)  land purchased by the board from money in the fund;
(2)  money attributable to general obligation bonds issued and sold by the board, including proceeds from the issuance and sale of the bonds;
(3)  money received from the sale or resale of land or rights in land purchased with the proceeds from the general obligation bonds;
(4)  money received from the sale or resale of land or rights in land purchased with other money attributable to the general obligation bonds;
(5)  proceeds derived from the sale or other disposition of the board's interest in:
(A)  contracts for the sale of land or rights in land;  or
(B)  a loan made under Subchapter K;
(6)  interest and penalties received from the sale or resale of land purchased under this chapter or from rights in the land;
(7)  bonuses, income, rents, royalties, and any other pecuniary benefit received by the board from:
(A)  land purchased under this chapter;  or
(B)  loans made under Subchapter K;
(8)  money received as indemnity or forfeiture for the failure of any bidder for purchase of general obligation bonds to comply with the person's bid and accept and pay for the bonds or for the failure of a bidder for purchase of land comprising a part of the fund to comply with the person's bid and accept and pay for the land and amounts received by the board under bond enhancement agreements with respect to the bonds;
(9)  interest received from investments of this money;
(10)  any interest of the board in a loan made under Subchapter K using money in the fund, including any title insurance related to the loan or land purchased with the loan;  and
(11)  any equitable interest in property encumbered under Subchapter K and attributable to the fund.
(b)  Except as otherwise provided by law, money in the fund shall be deposited in the State Treasury to the credit of the fund.
Acts 1977, 65th Leg., p. 2662, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.17, eff. Aug. 30, 1993;  Acts 1997, 75th Leg., ch. 71, Sec. 1, eff. May 9, 1997;  Acts 2001, 77th Leg., ch. 333, Sec. 1, eff. May 21, 2001.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter E. Veterans' Land Fund › Section 161.1731. Custody and Investment of Assets Pending Transactions

Sec. 161.1731.  CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS.  With the approval of the comptroller, the board, in managing the assets of the fund, pending the completion of an investment transaction, may:
(1)  select one or more commercial banks, depository trust companies, or other entities to serve as a custodian of the cash or securities of the fund;  and
(2)  authorize the custodian to invest cash held under Subdivision (1) in the investments determined by the board.
Added by Acts 1997, 75th Leg., ch. 71, Sec. 2, eff. May 9, 1997.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter E. Veterans' Land Fund › Section 161.1732. Lending Securities

Sec. 161.1732.  LENDING SECURITIES.  (a)  In managing the assets of the fund, the board may:
(1)  select one or more commercial banks, depository trust companies, or other entities to serve as a custodian of the securities of the fund;  and
(2)  authorize the custodian to lend the securities held under Subdivision (1) as provided by this section and by rules adopted by the board.
(b)  To be eligible to lend securities under this section, a custodian selected by the board under Subsection (a) must be experienced in the operation of a fully secured securities loan program and must:
(1)  maintain adequate capital in the prudent judgment of the board to assure the safety of the securities;
(2)  execute an indemnification agreement satisfactory in form and content to the board fully indemnifying the board against loss resulting from the custodian's operation of a securities loan program for the fund's securities;  and
(3)  require any securities broker or dealer to whom it lends securities of the fund to deliver to, and maintain with, the custodian collateral in the form of cash, United States government securities, or letters of credit that are issued by banks rated as to investment quality not less than A or its equivalent by a nationally recognized investment rating firm in an amount equal to at least 100 percent of the market value, from time to time, of the loaned securities.
Added by Acts 1997, 75th Leg., ch. 71, Sec. 2, eff. May 9, 1997.  Amended by Acts 1999, 76th Leg., ch. 134, Sec. 2, eff. May 20, 1999.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter E. Veterans' Land Fund › Section 161.174. Use of Fund to Pay Principal and Interest

Sec. 161.174.  USE OF FUND TO PAY PRINCIPAL AND INTEREST.  The principal of and interest on bonds issued by the board shall be paid from money in the fund as provided by the constitutional provision authorizing the bonds.
Acts 1977, 65th Leg., p. 2662, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.19, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter E. Veterans' Land Fund › Section 161.175. Use of Fund to Pay Expenses Related to the Land

Sec. 161.175.  USE OF FUND TO PAY EXPENSES RELATED TO THE LAND.  (a)  The board may use money in the fund attributable to bonds that have been issued and sold to pay:
(1)  expenses of surveying and monumenting the land and the tracts of land;
(2)  the cost of constructing roads on the land or the tracts of land;
(3)  legal fees, recordation fees, and advertising costs arising from the purchase and sale or resale of the land and the tracts of land;  and
(4)  other similar costs necessary or incidental to the purchase and sale of land acquired by the board.
(b)  These expenses shall be added to the price of the land when sold or resold by the board.
(c)  The board may award a contract in an amount not to exceed $25,000 to purchase supplies, materials, services, and equipment for use by the board in connection with improvements to, repairs to, or maintenance of land and with roadways and improvements located on land that are undertaken by the board under this chapter to make the land more marketable or useable without the necessity of soliciting or obtaining competitive bids.  The board may not award a contract under this subsection in an amount that exceeds $25,000 without soliciting or obtaining competitive bids.
Acts 1977, 65th Leg., p. 2663, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.20, eff. Aug. 30, 1993;  Acts 2003, 78th Leg., ch. 25, Sec. 1, eff. May 12, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter E. Veterans' Land Fund › Section 161.176. Use of Fund to Pay Bond Expenses

Sec. 161.176.  USE OF FUND TO PAY BOND EXPENSES.  The board may use money in the fund attributable to bonds issued and sold to pay:
(1)  legal fees and fees for financial advice necessary in the opinion of the board to the sale of bonds;
(2)  the expense of publishing notice of sale of an installment of bonds;
(3)  the expense of printing the bonds;
(4)  the expenses of issuance of the bonds, including the actual costs of travel, lodging, and meals of board members, officers or employees of the board, the comptroller, and the attorney general that are necessary in the opinion of the board to effectuate the issuance, rating, and delivery of the bonds;
(5)  the cost of manually signing the bonds;
(6)  remuneration to any agent employed by the board to pay the principal of and interest on the bonds;
(7)  any amounts required to be paid to maintain the federal tax exemption of interest on the bonds;  and
(8)  all other costs, fees, and expenses relating to the issuance of the bonds.
Acts 1977, 65th Leg., p. 2663, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1989, 71st Leg., ch. 720, Sec. 3, eff. June 14, 1989;  Acts 1993, 73rd Leg., ch. 242, Sec. 1.21, eff. Aug. 30, 1993;  Acts 1997, 75th Leg., ch. 1423, Sec. 14.18, eff. Sept. 1, 1997.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter E. Veterans' Land Fund › Section 161.177. Purchase and Destruction of Bonds

Sec. 161.177.  PURCHASE AND DESTRUCTION OF BONDS.  (a)  The board may use money in the fund to purchase on the open market any bonds it has issued and sold, and the debt represented by these bonds when purchased is considered canceled.
(b)  Bonds purchased by the board under Subsection (a) of this section shall be mutilated, burned, or otherwise destroyed by the comptroller, who shall certify this fact to the board under the seal of his office.
(c)  No further interest shall be paid on these bonds.
Acts 1977, 65th Leg., p. 2664, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 14.19, eff. Sept. 1, 1997.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter E. Veterans' Land Fund › Section 161.178. Disposal of Excess Funds

Sec. 161.178.  DISPOSAL OF EXCESS FUNDS.  Subject to the provisions of the constitution:
(a)  Money in the fund that is not spent for the purposes provided in this chapter shall remain in the fund until there is sufficient money to retire fully bonds issued and sold by the board.
(b)  Money in the fund that is in addition to that necessary to retire the bonds shall be deposited to the credit of the General Revenue Fund to be appropriated as provided by law, and the money necessary to retire the bonds shall be set aside and shall remain in the fund.
(c)  Money that becomes at a later time a part of the fund after there is sufficient money to retire the bonds shall be deposited to the credit of the General Revenue Fund.
Acts 1977, 65th Leg., p. 2664, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1985, 69th Leg., ch. 798, Sec. 17, eff. Sept. 1, 1985.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter E. Veterans' Land Fund › Section 161.179. Sale of Land and Land Contracts

Sec. 161.179.  SALE OF LAND AND LAND CONTRACTS.  Notwithstanding any other provision of this chapter, the board may sell at public or private sale, with or without public bidding, any or all of the land contracts and related land.  Proceeds from the sale shall be deposited in the fund or account from which the contracts or related land were sold and otherwise applied in the manner set forth in this chapter, except that at the direction of the board the sale proceeds may be used by the board, together with other available money, to discharge, pay, or redeem, in whole or in part, outstanding bonds issued by the board.
Acts 1977, 65th Leg., p. 2664, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1985, 69th Leg., ch. 798, Sec. 18, eff. Sept. 1, 1985;  Acts 1993, 73rd Leg., ch. 242, Sec. 1.22, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter E. Veterans' Land Fund › Section 161.180. Temporary Transfers

Sec. 161.180.  TEMPORARY TRANSFERS.  Amounts temporarily transferred from the fund to the veterans' housing assistance fund or the veterans' housing assistance fund II under the Texas Constitution shall be returned to the fund as soon as practicable.  Investment earnings allocated by the board to the transferred amounts shall be credited to the fund as if the transfer had not been made.
Added by Acts 1993, 73rd Leg., ch. 242, Sec. 1.23.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.2111. Report to Bond Review Board

Sec. 161.2111.  REPORT TO BOND REVIEW BOARD.  When the Veterans' Land Board applies under Subchapter C, Chapter 1231, Government Code, for the Bond Review Board's approval of a bond issuance, or on request of the Bond Review Board, with respect to purchases made under this chapter, the Veterans' Land Board shall file with the Bond Review Board a report on the performance of loans made by the Veterans' Land Board in connection with the purchases.  The Bond Review Board shall review the reports filed by the Veterans' Land Board under this section to assess the performance of loans made under this chapter.  The filing dates and the contents of the reports must comply with any rules adopted by the Bond Review Board.
Added by Acts 1991, 72nd Leg., 1st C.S., ch. 4, Sec. 13.02, eff. Aug. 22, 1991.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.355, eff. Sept. 1, 2001.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 1312 (S.B. 59), Sec. 87, eff. September 1, 2013.
Acts 2019, 86th Leg., R.S., Ch. 573 (S.B. 241), Sec. 1.42, eff. September 1, 2019.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.212. Appraisal

Sec. 161.212.  APPRAISAL.  (a)  Before purchasing land under the provisions of this chapter, the board shall have an appraisal of the property made to determine its value.
(b)  A person making an appraisal on behalf of the board shall be licensed or certified as an appraiser by the State of Texas.
(c)  The appraiser shall make a written report to the board in the form and manner required by the board.
(d)  Repealed by Acts 2003, 78th Leg., ch. 674, Sec. 21, eff. Sept. 1, 2003.
Acts 1977, 65th Leg., p. 2665, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1985, 69th Leg., ch. 798, Sec. 7, eff. Sept. 1, 1985;  Acts 2003, 78th Leg., ch. 674, Sec. 1, 21, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.213. Sworn Report

Sec. 161.213.  SWORN REPORT.  (a)  Before the board purchases land under Section 161.211 of this code or Subchapter G  of this chapter, it shall require the seller to execute a sworn report to the board that shall include the following:
(1)  the date the seller purchased the land;
(2)  the amount the seller paid for the land if purchased subsequent to June 7, 1949;
(3)  from whom the seller purchased the land;  and
(4)  the improvements made on the land since the seller purchased it and the cost of the improvements.
(b)  If the land is purchased under Subchapter G of this chapter, the sworn report shall include the following additional information:
(1)  if the seller by any manner or method is making the down payment to the board on behalf of the veteran;
(2)  if there is a lease arrangement between the seller and the veteran, and if so, the duration, term, and amount to be paid;  and
(3)  if there is an agreement or contract of any nature between the seller and the veteran to transfer, sell, or convey at any time in the future.
Acts 1977, 65th Leg., p. 2665, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.214. Title

Sec. 161.214.  TITLE.  (a)  Before making payment for land, the board shall have the title of the property sought to be purchased examined and may require for this purpose a title insurance policy or appropriate examination of title.  The board may submit the title to the attorney general for examination and opinion.
(b)  The board may purchase land that has mineral interests outstanding or that is subject to title exceptions acceptable to the board.
Acts 1977, 65th Leg., p. 2666, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 2003, 78th Leg., ch. 674, Sec. 2, eff. Sept. 1, 2003.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.215. Purchase of Land

Sec. 161.215.  PURCHASE OF LAND.  Land purchased by the board shall be acquired at the lowest price that can be obtained in the opinion of the board, taking into consideration the quality, location, natural advantages, and improvements of the land.  The land shall be paid for in cash and shall be clear of all liens and shall be a part of the fund.
Acts 1977, 65th Leg., p. 2666, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.216. Cost of Land Sold by Board

Sec. 161.216.  COST OF LAND SOLD BY BOARD.  Except for forfeited land that may be resold by the board at less than actual cost under Section 161.319 of this code, land shall not be sold by the board at less than its actual cost.
Acts 1977, 65th Leg., p. 2666, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.24, eff. Aug. 30, 1993.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.217. Appointment of Local Committee

Sec. 161.217.  APPOINTMENT OF LOCAL COMMITTEE.  The commissioners court of each county in the state shall appoint a committee composed of three resident real property owners of the county.
Acts 1977, 65th Leg., p. 2666, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.218. Work of Local Committee

Sec. 161.218.  WORK OF LOCAL COMMITTEE.  (a)  A person who considers himself an eligible veteran under this chapter and who desires to benefit under this chapter shall submit to the local committee the forms prescribed by the board before he submits his application of purchase and sales contract to the board.  If the veteran is a resident of one county and is seeking to purchase land located in another, he shall submit the forms to the local committee in both counties.
(b)  The local committee shall consider the forms and shall submit to the board a report concerning the financial responsibility of the veteran, if it is known, a statement of opinion as to whether or not the transaction is bona fide, a statement as to the amount the committee considers to be the reasonable value of the land in question, and a statement of the credit rating of the veteran applicant.
(c)  Notwithstanding Subsection (a) or (b) of this section, or Section 161.217 of this subchapter, the committees of the various counties shall function as provided by the board's rules and may be abolished by the board if it is determined that they are no longer necessary.
Acts 1977, 65th Leg., p. 2666, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1985, 69th Leg., ch. 798, Sec. 8, eff. Sept. 1, 1985.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.219. Board Investigation

Sec. 161.219.  BOARD INVESTIGATION.  (a)  The board may make inquiries and investigations it considers proper to determine the veteran's eligibility and qualifications and shall obtain from the veteran a written credit report.
(b)  If the board determines from the information submitted or from its own inquiries and investigations that the financial responsibility of the veteran leaves reasonable doubt as to his ability to carry the contract through to completion and make all payments, the board shall reject the application.
Acts 1977, 65th Leg., p. 2666, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.  Amended by Acts 1985, 69th Leg., ch. 798, Sec. 9, eff. Sept. 1, 1985.
2023 Texas Statutes › Natural Resources Code › Title 7 - Resources Programs › Chapter 161 - Veterans Land Board › Subchapter F. Purchase, Sale, and Other Disposition of Land › Section 161.220. Exemption

Sec. 161.220.  EXEMPTION.  The provisions of Sections 161.217 through 161.219 of this code do not apply to sales under Sections 161.175, 161.231 through 161.234, and 161.319 of this code unless the board so desires.
Acts 1977, 65th Leg., p. 2666, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977.