| Issue Date: | 1991-11-05 |
|---|---|
| Revised Date: |
Legal Citations
- Texas Constitution art. III sec. 50b-4, art. III sec. 50b-5, art. III sec. 50b-6, art. III sec. 50b-7
- Education Code sec. 52.89
Origin:
November 5, 1991 by S.B. 104, 72nd Leg., R.S.; S.J.R. 5, 72nd Leg., R.S.; S.B. 20, 72nd Leg., 2nd C.S
Purpose
The fund consists of proceeds from the sale of general obligation bonds in a total aggregate amount not to exceed $300 million with a total amount issued in a state fiscal year not to exceed $100 million. The Board shall use the proceeds to make loans to qualified students admitted to attend any institution of higher education within the State of Texas. The Board by resolution may create an interest and sinking account or other accounts in the fund.
| Classification | Group 02: Constitutional Funds Expendable for a Specific Purpose [?] |
|---|---|
| Depository Interest | Retained in the appropriated fund, to be deposited to the credit of the interest and sinking account. |
| Disposition of Balance | Accumulative |
| Appropriation Technique | General Appropriations Act |
Administering Agencies
Financial Activity
To view this appropriated fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:
Note
Bonding authority approved upon passage of the constitutional amendment by voters on November 5, 1991.
USAS Values
| USAS Title | STUDENT LOAN AUXILIARY FUND |
|---|---|
| Consolidated Fund | |
| State Fund Group | 02 - CONSTITUTIONAL FDS EXP FOR SPECIFIC PURP |
| USAS Status | A |
Created by the state's constitution or receiving constitutionally dedicated revenue and expended for a specific purpose.