73R5864 CAS-F
By Junell H.B. No. 1878
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the issuance of general obligation bonds by the Texas
1-3 Agricultural Finance Authority to support the Texas agricultural
1-4 fund.
1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-6 SECTION 1. Section 58.031(c), Agriculture Code, is amended
1-7 to read as follows:
1-8 (c) The authority may issue and sell general obligation
1-9 bonds of the state not to exceed $250 <$25> million outstanding at
1-10 any one time for the purpose of providing money to establish a
1-11 Texas agricultural fund. The authority may issue the bonds in one
1-12 or several installments.
1-13 SECTION 2. This Act takes effect on the date of the adoption
1-14 of the constitutional amendment proposed by the 73rd Legislature,
1-15 Regular Session, 1993, providing for an increase in the principal
1-16 amount of bonds for the support of the Texas agricultural fund that
1-17 may be outstanding at one time. If that amendment is not adopted,
1-18 this Act has no effect.
1-19 SECTION 3. The importance of this legislation and the
1-20 crowded condition of the calendars in both houses create an
1-21 emergency and an imperative public necessity that the
1-22 constitutional rule requiring bills to be read on three several
1-23 days in each house be suspended, and this rule is hereby suspended.