Bill Text: TX HJR36 | 2017-2018 | 85th Legislature | Engrossed


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: Slight Partisan Bill (Democrat 4-2)

Status: (Engrossed - Dead) 2017-05-09 - Referred to Finance [HJR36 Detail]

Download: Texas-2017-HJR36-Engrossed.html
  85R2572 JAM-D
 
  By: González of El Paso, Sheffield, H.J.R. No. 36
      Thompson of Harris, Walle, Murr, et al.
 
 
 
A JOINT RESOLUTION
  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."
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