FINANCING — Texas Code § ED.34.005
Texas Code § ED.34.005 — FINANCING. Reproduced from the official The Texas Constitution, with a citation summary, verification link, and related provisions.
§ ED.34.005. FINANCING
FINANCING. (a) A school district financially unable to immediately pay for a school motor vehicle, including a bus, bus body, or bus chassis, the district purchases may, as prescribed by this section, issue interest-bearing time warrants in amounts sufficient to make the purchase. (b) The warrants must mature in serial installments not later than the fifth anniversary of the date of issue and bear interest at a rate not to exceed the maximum rate provided by Section 1204.006 , Government Code. The warrants shall be issued and sold at not less than their face value. (c) The proceeds of the sale of the warrants shall be used to provide the funds required for the purchase. (d) The warrants, on maturity and in the order of their maturity dates, are payable out of any available funds of the school district and, as they become due, are entitled to first and prior payment out of those funds. (e) Full records of all warrants issued and sold shall be kept by the school district. Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.205, eff. Sept. 1, 2001.
Source: official Texas text · Last verified 2026-08-27
At a glance
- Citation: The Texas Constitution § ED.34.005
- Jurisdiction: Texas
- Code: The Texas Constitution
- Subject: FINANCING
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official The Texas Constitution. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Texas attorney.
Common questions
What is the source of The Texas Constitution § ED.34.005?
The text above is transcribed from the The Texas Constitution, the codified statutes of Texas. The official publisher link appears under "Verify the text" on this page.
What subject does The Texas Constitution § ED.34.005 address?
It addresses "FINANCING". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is The Texas Constitution § ED.34.005 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Texas source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Texas law to your facts requires a licensed Texas attorney who can review the specifics.