1-1     By:  Counts, et al. (Senate Sponsor - Truan)          H.J.R. No. 82
 1-2           (In the Senate - Received from the House April 5, 2001;
 1-3     April 9, 2001, read first time and referred to Committee on
 1-4     Finance; May 11, 2001, reported adversely, with favorable Committee
 1-5     Substitute by the following vote:  Yeas 7, Nays 0; May 11, 2001,
 1-6     sent to printer.)
 1-7     COMMITTEE SUBSTITUTE FOR H.J.R. No. 82                   By:  Ogden
 1-8                           HOUSE JOINT RESOLUTION
 1-9     proposing a constitutional amendment authorizing the Veterans' Land
1-10     Board to issue additional general obligation bonds and to use
1-11     certain assets in certain funds to provide for veterans cemeteries.
1-12           BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-13           SECTION 1.  Section 49-b, Article III, Texas Constitution, is
1-14     amended by amending Subsection (s) and adding Subsection (w) to
1-15     read as follows:
1-16           (s)  If the Board determines that assets from the Veterans'
1-17     Land Fund, the Veterans' Housing Assistance Fund, or the Veterans'
1-18     Housing Assistance Fund II are not required for the purposes of the
1-19     fund, the Board may:
1-20                 (1)  transfer the assets to another of those funds;
1-21                 (2)  [or] use the assets to secure revenue bonds issued
1-22     by the Board; or
1-23                 (3)  use the assets to plan and design, operate,
1-24     maintain, enlarge, or improve veterans cemeteries [under this
1-25     section].
1-26           (w)  In addition to the general obligation bonds authorized
1-27     to be issued and to be sold by the Veterans' Land Board by previous
1-28     constitutional amendments, the Veterans' Land Board may provide
1-29     for, issue, and sell general obligation bonds of the state to
1-30     provide home mortgage loans to veterans of the state.  The
1-31     principal amount of outstanding bonds authorized by this subsection
1-32     may not at any one time exceed $500 million.  The bond proceeds
1-33     shall be deposited in or used to benefit and augment the Veterans'
1-34     Housing Assistance Fund II and shall be administered and invested
1-35     as provided by law.  Payments of principal and interest on the
1-36     bonds, including payments made under a bond enhancement agreement
1-37     with respect to principal of or interest on the bonds, shall be
1-38     made from the sources and in the manner provided by this section
1-39     for general obligation bonds issued for the benefit of the
1-40     Veterans' Housing Assistance Fund II.
1-41           SECTION 2.  This proposed constitutional amendment shall be
1-42     submitted to the voters at an election to be held November 6, 2001.
1-43     The ballot shall be printed to permit voting for or against the
1-44     proposition:  "The constitutional amendment authorizing the
1-45     Veterans' Land Board to issue up to $500 million in general
1-46     obligation bonds payable from the general revenues of the state for
1-47     veterans' housing assistance and to use assets in certain veterans'
1-48     land and veterans' housing assistance funds to provide for veterans
1-49     cemeteries."
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