A JOINT RESOLUTION
1-1 proposing a constitutional amendment authorizing the Veterans' Land
1-2 Board to issue additional general obligation bonds and to use
1-3 certain assets in certain funds to provide for veterans cemeteries.
1-4 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 49-b, Article III, Texas Constitution, is
1-6 amended by amending Subsection (s) and adding Subsection (w) to
1-7 read as follows:
1-8 (s) If the Board determines that assets from the Veterans'
1-9 Land Fund, the Veterans' Housing Assistance Fund, or the Veterans'
1-10 Housing Assistance Fund II are not required for the purposes of the
1-11 fund, the Board may:
1-12 (1) transfer the assets to another of those funds;
1-13 (2) [or] use the assets to secure revenue bonds issued
1-14 by the Board; or
1-15 (3) use the assets to plan and design, operate,
1-16 maintain, enlarge, or improve veterans cemeteries [under this
1-17 section].
1-18 (w) In addition to the general obligation bonds authorized
1-19 to be issued and to be sold by the Veterans' Land Board by previous
1-20 constitutional amendments, the Veterans' Land Board may provide
1-21 for, issue, and sell general obligation bonds of the state to
1-22 provide home mortgage loans to veterans of the state. The
1-23 principal amount of outstanding bonds authorized by this subsection
1-24 may not at any one time exceed $500 million. The bond proceeds
2-1 shall be deposited in or used to benefit and augment the Veterans'
2-2 Housing Assistance Fund II and shall be administered and invested
2-3 as provided by law. Payments of principal and interest on the
2-4 bonds, including payments made under a bond enhancement agreement
2-5 with respect to principal of or interest on the bonds, shall be
2-6 made from the sources and in the manner provided by this section
2-7 for general obligation bonds issued for the benefit of the
2-8 Veterans' Housing Assistance Fund II.
2-9 SECTION 2. This proposed constitutional amendment shall be
2-10 submitted to the voters at an election to be held November 6, 2001.
2-11 The ballot shall be printed to permit voting for or against the
2-12 proposition: "The constitutional amendment authorizing the
2-13 Veterans' Land Board to issue up to $500 million in general
2-14 obligation bonds payable from the general revenues of the state for
2-15 veterans' housing assistance and to use assets in certain veterans'
2-16 land and veterans' housing assistance funds to provide for veterans
2-17 cemeteries."
_______________________________ _______________________________
President of the Senate Speaker of the House
I certify that H.J.R. No. 82 was passed by the House on April
4, 2001, by the following vote: Yeas 146, Nays 0, 1 present, not
voting; and that the House concurred in Senate amendments to
H.J.R. No. 82 on May 25, 2001, by the following vote: Yeas 110,
Nays 0, 1 present, not voting.
_______________________________
Chief Clerk of the House
I certify that H.J.R. No. 82 was passed by the Senate, with
amendments, on May 18, 2001, by the following vote: Yeas 30, Nays
0, 1 present, not voting.
_______________________________
Secretary of the Senate
RECEIVED: _____________________
Date
_____________________
Secretary of State