(a) The veterans’ land fund shall include:
(1) land purchased by the board from money in the fund;
(2) money attributable to general obligation bonds issued and sold by the board, including proceeds from the issuance and sale of the bonds;
(3) money received from the sale or resale of land or rights in land purchased with the proceeds from the general obligation bonds;
(4) money received from the sale or resale of land or rights in land purchased with other money attributable to the general obligation bonds;
(5) proceeds derived from the sale or other disposition of the board’s interest in:
(A) contracts for the sale of land or rights in land; or
(B) a loan made under Subchapter K;
(6) interest and penalties received from the sale or resale of land purchased under this chapter or from rights in the land;
(7) bonuses, income, rents, royalties, and any other pecuniary benefit received by the board from:
(A) land purchased under this chapter; or
(B) loans made under Subchapter K;
(8) money received as indemnity or forfeiture for the failure of any bidder for purchase of general obligation bonds to comply with the person‘s bid and accept and pay for the bonds or for the failure of a bidder for purchase of land comprising a part of the fund to comply with the person’s bid and accept and pay for the land and amounts received by the board under bond enhancement agreements with respect to the bonds;
(9) interest received from investments of this money;
(10) any interest of the board in a loan made under Subchapter K using money in the fund, including any title insurance related to the loan or land purchased with the loan; and
(11) any equitable interest in property encumbered under Subchapter K and attributable to the fund.
(b) Except as otherwise provided by law, money in the fund shall be deposited in the State Treasury to the credit of the fund.

Terms Used In Texas Natural Resources Code 161.171

  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
  • Property: means real and personal property. See Texas Government Code 311.005
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