By Kamel H.J.R. No. 129 74R9580 JSA-D A JOINT RESOLUTION 1-1 proposing a constitutional amendment to authorize the issuance of 1-2 general obligation bonds to finance the acquisition, construction, 1-3 improvement, and maintenance of classrooms and classroom buildings 1-4 at public institutions of higher education. 1-5 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Article III, Texas Constitution, is amended by 1-7 adding Section 49-j to read as follows: 1-8 Sec. 49-j. (a) The legislature may authorize the issuance 1-9 of not more than $150 million in bonds to provide revenue to 1-10 acquire, construct, improve, or maintain classrooms and classroom 1-11 buildings at public institutions of higher education. 1-12 (b) Bonds authorized by this section constitute a general 1-13 obligation of this state. While any of the bonds or interest on the 1-14 bonds is outstanding and unpaid, there is appropriated out of the 1-15 first money coming into the treasury in each fiscal year that is 1-16 not otherwise appropriated by this constitution sufficient money to 1-17 pay the principal of and interest on the bonds that mature or 1-18 become due during the fiscal year, less any available amount in an 1-19 interest and sinking fund that is pledged to the payment of the 1-20 bonds or interest. 1-21 SECTION 2. This proposed constitutional amendment shall be 1-22 submitted to the voters at an election to be held November 7, 1995. 1-23 The ballot shall be printed to permit voting for or against the 1-24 following proposition: "The constitutional amendment to authorize 2-1 the state to issue $150 million in general obligation bonds to 2-2 finance the acquisition, construction, improvement, or maintenance 2-3 of classrooms and classroom buildings by public colleges and 2-4 universities."