Texas § AG.59.012 - DISPOSITION OF BOND PROCEEDS
Full text of Texas The Texas Constitution § AG.59.012 — DISPOSITION OF BOND PROCEEDS, with citation guidance and answers to common questions.
§ AG.59.012. DISPOSITION OF BOND PROCEEDS
DISPOSITION OF BOND PROCEEDS. Text of subsec. (a) as amended by Acts 1995, 74th Leg., ch. 858, Sec. 1 (a) Except as provided by Subsection (b) of this section, proceeds from the sale of the bonds, other than refunding bonds, shall be deposited in the state treasury to the credit of the fund. Text of subsec. (a) as amended by Acts 1995, 74th Leg., ch. 1014, Sec. 7 (a) Except as provided by Subsections (b), (c), and (d) of this section, proceeds from the sale of the bonds, other than refunding bonds, shall be deposited in the state treasury to the credit of the fund. (b) The board may provide for transferring to the interest and sinking account from the proceeds of the sale of bonds or from the available money in the fund directly an amount that, together with the accrued interest received, is sufficient to pay interest becoming due during the fiscal year in which the bonds are sold and to establish appropriate reserves. (c) The board may provide from the proceeds of the sale of bonds or from available money in the fund an amount that is reasonable and necessary to cover the costs of administering the program. (d) The board shall deposit the proceeds from the sale of bonds, as authorized by the Texas Constitution, into the Texas agricultural fund, to be administered as provided by Chapter 58 of this code. Added by Acts 1993, 73rd Leg., ch. 542, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1995, 74th Leg., ch. 858, Sec. 1, eff. Sept. 1, 1995; Acts 1995, 74th Leg., ch. 1014, Sec. 7, eff. Jan. 1, 1996.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § AG.59.012
What does The Texas Constitution § AG.59.012 cover?
Section AG.59.012 ("DISPOSITION OF BOND PROCEEDS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § AG.59.012?
A common citation format is "The Texas Constitution § AG.59.012" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § AG.59.012 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.