Austin, Texas
                                   FISCAL NOTE
                               75th Regular Session
                                  March 5, 1997
      TO: Honorable J.E. "Buster" Brown, Chair            IN RE:  Senate Joint Resolution
                                                                No. 17
          Committee on Natural Resources                              By: Brown
          Austin, Texas
         FROM:  John Keel, Director    
In response to your request for a Fiscal Note on SJR17 ( Proposing 
a constitutional amendment to create the Texas Water Development 
Fund II and to authorize the Texas Water Development Board to 
administer the fund and issue general obligation bonds for the 
purposes of the fund.) this office has detemined the following:
         Biennial Net Impact to General Revenue Funds by SJR17-As Introduced
No significant fiscal implication to the State is anticipated, 
other than the cost of publication.  The cost to the state for 
publication of the resolution is $71,000.
The enabling legislation, House Bill 5, would establish the 
Texas Water Development Fund II, consolidating certain bond 
authorizations.  The consolidation of bond authorizations would 
produce a savings in issuance costs because fewer issues would 
be necessary.  
No significant fiscal implication to units of local government 
is anticipated.  The Texas Water Development Board anticipates 
that savings derived from bond issue consolidation would be 
passed on to units of local government.  In addition, local 
governments would be able to reduce the number of bond issues, 
if desirable.

   Source:            Agencies:   307   Secretary of State
                                         580   Water Development Board
                      LBB Staff:   JK ,BB ,DM