By:  Carona                                           S.R. No. 1105
                                  SENATE RESOLUTION
 1-1           BE IT RESOLVED by the Senate of the State of Texas, 76th
 1-2     Legislature, Regular Session, 1999, That Senate Rule 12.03 is
 1-3     suspended, as provided by Senate Rule 12.08, to enable the
 1-4     conference committee appointed to resolve the differences between
 1-5     the house and senate versions of Senate Joint Resolution No. 12,
 1-6     proposing a constitutional amendment relating to the making of
 1-7     advances under and payment of a reverse mortgage, to consider and
 1-8     take action on the following matter:
 1-9           Senate Rules 12.03(3) and (4), are suspended to permit the
1-10     committee to add new text to Section 50(k)(7), Article XVI, Texas
1-11     Constitution, as amended by Section 1 of the joint resolution, to
1-12     read as follows:
1-13     provided, however, that this subdivision does not apply when a
1-14     governmental agency or instrumentality takes an assignment of the
1-15     loan in order to cure the default
1-16           Explanation:  This change is necessary to allow a
1-17     governmental agency or instrumentality to take assignment of a
1-18     reverse mortgage loan to cure a default without forfeiting
1-19     principal and interest of the loan.
1-20                                  ______________________________________
1-21                                          President of the Senate
1-22                                       I hereby certify that the above
1-23                                  Resolution was adopted by the Senate
1-24                                  on May 25, 1999, by the following
1-25                                  vote:  Yeas 30, Nays 0.
1-26                                  ______________________________________
1-27                                          Secretary of the Senate