S.J.R. No. 51
                                SENATE JOINT RESOLUTION
    1-1  proposing a constitutional amendment relating to the use of
    1-2  proceeds of bonds issued for financing of farm and ranch land.
    1-3        BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  Section 49-f, Article III, Texas Constitution, is
    1-5  amended by amending Subsection (b) and by adding Subsection (g) to
    1-6  read as follows:
    1-7        (b)  Except as provided by Subsection (g) of this section,
    1-8  all <All> money received from the sale of the bonds shall be
    1-9  deposited in a fund created with the state treasurer to be known as
   1-10  the farm and ranch finance program fund.  This fund shall be
   1-11  administered by the Texas Agricultural Finance Authority <Veterans'
   1-12  Land Board> in the manner prescribed by law.
   1-13        (g)  Notwithstanding Subsection (a) of this section, the
   1-14  proceeds of $200 million of the bonds authorized by this section
   1-15  may be used for the purposes provided by Section 49-i of this
   1-16  article and for other rural economic development programs, and the
   1-17  proceeds of bonds issued for those purposes under this subsection
   1-18  shall be deposited in the Texas agricultural fund, to be
   1-19  administered in the same manner that proceeds of bonds issued under
   1-20  Section 49-i of this article are administered.
   1-21        SECTION 2.  This proposed constitutional amendment shall be
   1-22  submitted to the voters at an election to be held on November 7,
   1-23  1995.  The ballot shall be printed to permit voting for or against
   1-24  the proposition:  "The constitutional amendment allowing the use of
    2-1  existing bond authority of the farm and ranch finance program to
    2-2  include financial assistance for the expansion, development, and
    2-3  diversification of production, processing, marketing, and export of
    2-4  Texas agricultural products."