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."