Bill Text: TX HJR90 | 2023-2024 | 88th Legislature | Introduced

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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

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88R6950 EAS-F
By: Campos H.J.R. No. 90

A JOINT RESOLUTION
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."