SRC-CTC S.B. 1296 77(R)BILL ANALYSIS


Senate Research CenterS.B. 1296
By: Lucio
Business & Commerce
6/5/2001
Enrolled


DIGEST AND PURPOSE 

Currently, unscrupulous development and substandard housing conditions
along the Texas-Mexico border are prohibited by state law.  However, many
neighborhoods, known as colonias, were built in this region prior to 1989
when legislative reform began.  Since little is available or affordable to
the residents of these colonias, many Texas residents continue to live in
neighborhoods without basic services.  S.B. 1296 authorizes the issuance of
general obligation bonds to aid counties in roadway improvement projects to
serve colonias. 

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a
state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Title 9G, Government Code, by adding Chapter 1403, as
follows: 

CHAPTER 1403.  GENERAL OBLIGATION BONDS FOR CERTAIN BORDER COLONIA PROJECTS

 Sec. 1403.001.  DEFINITIONS.  Defines "authority" and "commission."

Sec. 1403.002.  GENERAL OBLIGATION BONDS AND NOTES FOR BORDER COLONIA
ROADWAY PROJECTS.  (a) Requires the Texas Public Finance Authority
(authority), as provided by Section 49-1, Article III, Texas Constitution,
and in accordance with requests from the office of the governor, to take
certain actions relating to the issuance of general obligation bonds and
notes and the distribution of the proceeds from the sale of the bonds and
notes. 

(b) Requires the office of the governor to determine the amount of bonds to
be issued at any one time by the authority under Subsection (a)(1) and the
times at which the bonds are issued. 

(c) Requires the Texas Transportation Commission (commission) to establish
a program to administer the use of the proceeds of the bonds and notes.
Requires the Texas Department of Transportation to administer the program
in cooperation with the office of the governor, the secretary of state, and
the Texas A&M University Center for Housing and Urban Development. 

(d) Requires the commission, in cooperation with the office of the
governor, to take certain actions. 

(e) Requires the issuance of general obligation bonds under this chapter to
comply with and subject to Subtitle A, of this title, Chapter 1231, and
applicable provisions of  Chapters 1232 and 1371. 

(f) Authorizes the authority, in connection with bonds or notes issued
under this section, to enter into one or more credit agreements at any time
for a period and on conditions the authority approves.  Defines "credit
agreement." 

SECTION 2. Provides that this Act takes effect on the date on which the
constitutional amendment proposed by the 77th Legislature, Regular Session,
2001, authorizing the issuance of state general obligation bonds to provide
assistance to counties for roadway projects to serve border colonias takes
effect.  Provides that this Act has no effect if that amendment is not
approved by the voters.