LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
74th Regular Session
February 24, 1995
TO: Honorable Rob Junell, Chair IN RE: Senate Bill No. 4,
Committee on Appropriations as engrossed
House of Representatives By: Montford
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on Senate Bill No.
4 (Relating to the issuance of general obligation bonds for
projects relating to corrections institutions and to an emergency
appropriation to the Texas Department of Criminal Justice for
acquiring, constructing, and equipping corrections institutions.)
this office has determined the following:
The bill would require the Texas Public Finance Authority to
issue $236,400,000 in general obligation bonds as authorized
under Section 49-h, Article III, Texas Constitution .
The bill would also make an emergency
appropriation to the Texas Department of Criminal Justice in the
amount of $236,400,000 from the bond proceeds for the purpose of
acquiring, constructing, or equipping new correctional
institutions.
Current 1996-97 Legislative Budget Board Staff
recommendations include estimated debt service amounts included
below.
The probable fiscal implication of implementing the
provisions of the bill during each of the first six years
following passage is estimated as follows:
Fiscal Appropriation to Probable Debt Change in
Year the Department of Service Cost Out Number of State
Criminal Justice of the General Employees from
out of General Revenue Fund No. FY 1995
Obligation Bond 001
Proceeds
1995 $236,400,000 $5,706,181 .0
1996 0 19,243,650 .0
1997 0 20,026,072 .0
1998 0 20,739,000 .0
1999 0 20,645,200 .0
2000 0 20,555,600 .0
Similar annual fiscal implications would continue
for 20 years until the bonds are retired.
No fiscal implication to units of local government
is anticipated.
Source: Comptroller of Public Accounts, Texas Public Finance
Authority
LBB Staff: JK, BP, DF