Which of the following is true of general obligation bonds in Texas?
a. Both Democrats and Republicans have traditionally supported their use.
b. The Texas Supreme Court ruled that they violated constitutional provisions prohibiting deficit financing.
c. They can be issued directly through the passage of legislation without public input.
d. They are typically used to cover short-term gaps between state revenues and expenditures.
Question 2
Which of the following is an accurate statement regarding the Texas state lottery?
a. It has continued to provide sufficient funds for all educational expenditures in the state since its initial adoption.
b. It was eliminated in 2012 following the creation of a state income tax.
c. It was first established in 1986 to provide dedicated funds for infrastructure projects like highway improvements.
d. As early as 1997, it began to fail to generate projected revenues.
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