Bill Text: TX HJR90 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Proposing a constitutional amendment authorizing the issuance of general obligation bonds to provide funding for the construction, expansion, maintenance, and operation of state mental health facilities.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2023-03-03 - Referred to Pensions, Investments & Financial Services [HJR90 Detail]
Download: Texas-2023-HJR90-Introduced.html
88R6950 EAS-F | ||
By: Campos | H.J.R. No. 90 |
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proposing a constitutional amendment authorizing the issuance of | ||
general obligation bonds to provide funding for the construction, | ||
expansion, maintenance, and operation of state mental health | ||
facilities. | ||
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Article III, Texas Constitution, is amended by | ||
adding Section 49-q to read as follows: | ||
Sec. 49-q. (a) The legislature by general law may authorize | ||
the Health and Human Services Commission or that agency's successor | ||
to provide for, issue, and sell general obligation bonds of the | ||
State of Texas in an amount not to exceed $10 billion and to enter | ||
into related credit agreements to provide funding for the | ||
construction, expansion, maintenance, and operation of state | ||
mental health facilities. The bonds shall be executed in the form, | ||
on the terms, and in the denominations, bear interest, and be issued | ||
in installments as prescribed by the Health and Human Services | ||
Commission or that agency's successor. | ||
(b) A portion of the proceeds from the sale of the bonds and | ||
a portion of the interest earned on the bonds may be used to pay: | ||
(1) the costs of administering projects authorized by | ||
this section; | ||
(2) the cost or expense of the issuance of the bonds; | ||
(3) refunding bonds and related credit agreements | ||
authorized by this section; and | ||
(4) all or part of a payment owed or to be owed under a | ||
credit agreement. | ||
(c) The bonds authorized under this section constitute a | ||
general obligation of the state. While any of the bonds or interest | ||
on the bonds is outstanding and unpaid, there is appropriated out of | ||
the first money coming into the treasury each fiscal year, not | ||
otherwise appropriated by this constitution, an amount sufficient | ||
to pay the principal of and interest on the bonds that mature or | ||
become due during the fiscal year, including an amount sufficient | ||
to make payments under a related credit agreement. | ||
(d) The proceeds from the issuance and sale of the bonds, | ||
and the interest earned on the bonds, are appropriated when | ||
received by the state, and may be used as provided by this section | ||
and any law enacted under this section without further | ||
appropriation. | ||
(e) Bonds issued under this section, after approval by the | ||
attorney general, registration by the comptroller of public | ||
accounts, and delivery to the purchasers, are incontestable and are | ||
general obligations of the State of Texas under this constitution. | ||
SECTION 2. This proposed constitutional amendment shall be | ||
submitted to the voters at an election to be held November 7, 2023. | ||
The ballot shall be printed to provide voting for or against the | ||
proposition: "The constitutional amendment authorizing the | ||
issuance of general obligation bonds to provide funding for the | ||
construction, expansion, maintenance, and operation of state | ||
mental health facilities." |