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Fund 0601 – Student Loan Auxiliary Fund

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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 Date: 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

Issue Date: 1991-11-05

Revised Date:

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

781 – Texas Higher Education Coordinating Board

Financial Activity

To view this fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:

Notes

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.

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