This law governs the issuance of bonds and notes by universities, specifying that they must be repaid from the available university fund. It also outlines the approval process by the attorney general and the requirement for competitive bidding, ensuring transparency and accountability in financing.
Bonds must be repaid from the available university fund.
Requires competitive bidding for sale of bonds and notes.
Approval by the attorney general makes bonds incontestable.
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In simple terms: Learn about Texas's law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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