| Issue Date: | |
|---|---|
| Revised Date: | 2023-12-29 |
Legal Cites
- Natural Resources Code sec. 51.052, sec. 51.069
Object Type
Cash — Natural Resources
Origin Date
1919 by the 36th Leg.
Description
A purchaser of land under Natural Resources Code Ch. 51, Subchapter C may make a down payment of an amount determined by the School Land Board and the board may set the terms and conditions of the sale, including the interest rate.
Due Date
As determined by the board.
Collecting Agencies
- 305 – General Land Office for the Permanent School Fund Corporation, Agency 706
Note
Codified by S.B. 1207, 65th Leg., R.S.
H.B. 1964, 68th Leg., R.S. removed requirement that one-fifth of the purchase price must accompany the application and the purchaser’s obligation to pay the balance with interest at 5%. Interest requirements amended to sec. 51.052. Citation for this entry changed from 51.056(c) to 51.052.
Reference to asylum land deleted by H.B. 2249, 78th Leg., R.S.
S.B. 206, 78th Leg., R.S. changed deposit from Available School Fund (0002) to the Permanent School Fund (0044).
USAS Values
| Appropriation Year | 24 |
|---|---|
| USAS Title | INTEREST ON LAND SALES, PUB SCHOOL LAND |
| Receipt Category | 08 – Natural Resources |
| Receipt Type | 70 – Interest and Dividends |
| Object Group | 30 – Revenues |
| USAS Status | A |
| Rev/Exp Category | 02 – INTEREST AND INVESTMENT INCOME |