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Texas Constitution art. 7 §4
In force on Oct 16, 2007 · this text took effect (date not stated) · same as today's text
SALE OF PERMANENT SCHOOL FUND LANDS; INVESTMENT OF PROCEEDS
The lands herein set apart to the Permanent School fund, shall be sold under such regulations, at such times, and on such terms as may be prescribed by law; and the Legislature shall not have power to grant any relief to purchasers thereof. The proceeds of such sales must be used to acquire other land for the Permanent School fund as provided by law or the proceeds shall be invested by the comptroller of public accounts, as may be directed by the Board of Education herein provided for, in the bonds of the United States, the State of Texas, or counties in said State, or in such other securities, and under such restrictions as may be prescribed by law; and the State shall be responsible for all investments.
(Feb. 15, 1876. Amended Aug. 14, 1883, Nov. 5, 1985, Nov. 7, 1995, and Nov. 8, 2011.)
History:
Source: the Legislature's file server, seen Feb 17, 2022 to Nov 08, 2026.
Every version on file
- Effective date not stated · seen Feb 2022–Nov 2026
- Effective date not stated · seen Sep 2018–Dec 2019
Attorney General opinions that cite it
- GA-0617 (Oct 16, 2007): Constitutionality of section 51.413, Natural Resources Code, which would authorize the School Land Board to transfer proceeds from the sale of land in the permanent school fund to the available school fund
A research copy. The official text is the Legislature's (statutes), the Secretary of State's (Texas Administrative Code) or eCFR's (federal rules). Not legal advice.