Bill Text: TX HJR36 | 2017-2018 | 85th Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Proposing a constitutional amendment providing for the issuance of additional general obligation bonds by the Texas Water Development Board to provide assistance to economically distressed areas.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2017-05-09 - Referred to Finance [HJR36 Detail]
Download: Texas-2017-HJR36-Comm_Sub.html
Bill Title: Proposing a constitutional amendment providing for the issuance of additional general obligation bonds by the Texas Water Development Board to provide assistance to economically distressed areas.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2017-05-09 - Referred to Finance [HJR36 Detail]
Download: Texas-2017-HJR36-Comm_Sub.html
85R2572 JAM-D | ||
By: González of El Paso, Sheffield, | H.J.R. No. 36 | |
Thompson of Harris, Walle, Murr |
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proposing a constitutional amendment providing for the issuance of | ||
additional general obligation bonds by the Texas Water Development | ||
Board to provide assistance to economically distressed areas. | ||
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Article III, Texas Constitution, is amended by | ||
adding Section 49-d-14 to read as follows: | ||
Sec. 49-d-14. (a) The Texas Water Development Board may | ||
issue additional general obligation bonds, at its determination, | ||
for the economically distressed areas program account of the Texas | ||
Water Development Fund II, in an amount not to exceed $200 million. | ||
The bonds shall be used to provide financial assistance to | ||
economically distressed areas of the state as defined by law. | ||
(b) The additional general obligation bonds authorized by | ||
this section may be issued as bonds, notes, or other obligations as | ||
permitted by law and shall be sold in forms and denominations, on | ||
terms, at times, in the manner, at places, and in installments, as | ||
determined by the Texas Water Development Board. The bonds shall | ||
bear a rate or rates of interest the Texas Water Development Board | ||
determines. The bonds authorized by this section shall be | ||
incontestable after execution by the Texas Water Development Board, | ||
approval by the attorney general, and delivery to the purchaser or | ||
purchasers of the bonds. | ||
SECTION 2. This proposed constitutional amendment shall be | ||
submitted to the voters at an election to be held November 7, 2017. | ||
The ballot shall be printed to provide for voting for or against the | ||
proposition: "The constitutional amendment providing for the | ||
issuance of additional general obligation bonds by the Texas Water | ||
Development Board in an amount not to exceed $200 million to provide | ||
assistance to economically distressed areas." |