Amend HB 347, in SECTION 2 of the bill, in proposed Section 361.052(b), Local Government Code, between "subchapter" and the period at the end of the section (page 2, line 24, house engrossment), by inserting ", except that an entity's obligations may be refunded by the issuance of bonds, as defined by the Bond Procedures Act of 1981 (Article 717k-6, Vernon's Texas Civil Statutes), that are payable from a pledge of ad valorem tax receipts only if the issuance of the bonds is approved by a majority of votes cast at an election conducted as provided by the Election Code".