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