Bill not drafted by TLC or Senate E&E.
Line and page numbers may not match official copy.
By Lewis of Orange H.J.R. No. 5
A JOINT RESOLUTION
1-1 proposing a constitutional amendment relating to the flow of funds
1-2 for repayment of Texas agricultural water conservation bonds.
1-3 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Subsection (c), Section 50-d, Article III, Texas
1-5 Constitution, is amended to read as follows:
1-6 (c) Texas agricultural water conservation bonds are general
1-7 obligations of the State of Texas. During the time that Texas
1-8 agricultural water conservation bonds or any interest on those
1-9 bonds is outstanding or unpaid, there is appropriated out of the
1-10 first money coming into the state treasury in each fiscal year, not
1-11 otherwise appropriated by this constitution, an amount that is
1-12 sufficient to pay the principal of and interest on those bonds that
1-13 mature or become due during that fiscal year[, less the amount in
1-14 the sinking fund at the close of the prior fiscal year].
1-15 SECTION 2. This proposed constitutional amendment shall be
1-16 submitted to the voters at an election to be held November 4, 1997.
1-17 The ballot shall be printed to permit voting for or against the
1-18 proposition: "The constitutional amendment relating to the flow of
1-19 funds for repayment of Texas agricultural water conservation
1-20 bonds."