Texas Attorney General Opinion: O-6993 Page: 3 of 7
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Hon. E. N. Jones, page 3
at said institutions; and in anticipation of the
collection of such revenues, and for the purpose
of paying the cost of the oonstruotion or ao-
quisition of said building or buildings and
grounds, said Boards are severally empowered b;
resolution to aauthoriz, sella aiaf4ver its
negptisblebous or notes fromI Inmeo tImesad
I sUOk amount or a.Ounts a it may consider seo-
sa. The ee and- oherges so flWtort-e
usWsof any suoh building or buildings shall not
be collooted after payment in full shell have
been completed for the building or buildings for
which said fees shall be pledged. Thereafter the
right of said respective Boatds to fix charges
and fees shall depend on laws other than this Aet
as hereby amended. Anj bonds or notes issued
hereunder shall 'b~eart not to -eie
slix{421per centpAr eanuas sh us allai
mature not more than ftort years from date.
(Zmphasis supplied.)
Sec. 3. Subject to the above restrictions,
each of said Boards is given complete discretion
in fixing the form, oonditions and details of such
bonds or notes. Any bonds or notes issued here-
under shall not be an indebtedness of the State of
Texas, but shall be payable solely from the revenues
to be derived from the operation of said buildings;
provided that sech bonds may be refinanced by the
said Boards whenever such action is found by the
Board to be necessary.
Seo. 4.
"Each of said Boards is authoried and empowered
to pledge all or a part of such revenues to the pay-
menat of such bonds or notes, and to enter such agree-
meats regarding the imposition of uffticient charges
and the collection, pledge and disposition of such
revenues a' it may deem proper. In all cases where
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Texas. Attorney-General's Office. Texas Attorney General Opinion: O-6993, text, December 17, 1945; (https://texashistory.unt.edu/ark:/67531/metapth264270/m1/3/: accessed April 25, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.