By:  Barrientos                                       S.R. No. 1298
     1-10     AUTHORITY.  (a)  The Texas Public Finance Authority shall exercise
     1-11     the board's authority provided by law to issue bonds and refunding
     1-12     bonds.  The Texas Public Finance Authority is subject to all
     1-13     rights, duties, and conditions provided by law with respect to
     1-14     issuance of bonds by the board.لل
     1-15           (b)  For purposes of Sections 50b, 50b-1, 50b-2, and 50b-3,
     1-16     Article III, Texas Constitution, the authority is the successor to
     1-17     the board.
     1-18           Explanation:  This change is necessary to conform the
     1-19     conference committee report to a senate amendment striking the
     1-20     Texas Higher Education Coordinating Board from the bill.
     1-21                                  ______________________________________
     1-22                                          President of the Senate
     1-23                                       I hereby certify that the above
     1-24                                  Resolution was adopted by the Senate
     1-25                                  on May 27, 1995, by the following vote:
     1-26                                  Yeas 31, Nays 0.
     1-27                                  ______________________________________
     1-28                                          Secretary of the Senate