Texas Administrative Code
Title 40 - SOCIAL SERVICES AND ASSISTANCE
Part 5 - TEXAS VETERANS LAND BOARD
Chapter 177 - VETERANS HOUSING ASSISTANCE PROGRAM
Section 177.3 - Administration of Fund
Current through Reg. 49, No. 12; March 22, 2024
(a) The veterans housing assistance fund is defined by Natural Resources Code, § 162.002, and Subchapter C (§§162.031-162.050).
(b) The proceeds from each bond sale shall be part of the fund and shall first be used for the following purposes:
(c) After the requirements of subsection (b) of this section have been satisfied, the board, with the assistance of the administrator, shall monitor the cash flow requirements of the program and shall administer the fund to:
(d) Any money in the fund not immediately needed for the purposes described in subsections (b) and (c) of this section, nor immediately committed to paying principal of and interest on the bonds, nor the payment of expenses as provided in Natural Resources Code, Chapter 162, or this chapter, may be invested in bonds or obligations of the United States or in any other way not in conflict with the covenants or the Constitution and laws of the State of Texas until needed for these purposes.
(e) The board may use money in the fund attributable to bonds issued and sold to pay:
(f) Money in the fund that is not spent for the purposes provided in Natural Resources Code, Chapter 162, or this chapter, shall remain in the fund until there is sufficient money to retire fully bonds issued and sold by the board.
(g) The board may by resolution make provisions for the administration of the fund. In the event of any conflict between these rules and the provisions of a resolution of the board pertaining to the administration of the fund, the provisions of the board's resolution shall control.