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".