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Tex. Government Code § 845.105

INDEBTEDNESS; PAYMENT

Texas · Texas Government Code · Status: effective

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Tex. Government Code § 845.105, INDEBTEDNESS; PAYMENT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/659772
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(a) The board of trustees may: (1) incur indebtedness; (2) on the credit of the retirement system, borrow money to pay expenses incident to the system's operation; (3) renew, extend, or refund its indebtedness; or (4) issue and sell negotiable promissory notes or negotiable bonds of the system. (b) A note or bond issued under this section must expressly state that the note or bond is not an obligation of this state.