By Lucio, et al. S.B. No. 1296 77R9107 T A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the issuance of general obligation securities to 1-3 provide financial assistance to counties for roadway projects for 1-4 colonias. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Chapter 1401, Government Code is amended by adding 1-7 section 1401.0411 to read as follows: 1-8 Sec. 1401.0411. General Obligation Securities for Colonia 1-9 Roadway Projects. (a) As provided by Section 49-1, Article III, 1-10 Texas Constitution, the Authority is authorized to issue general 1-11 obligation public securities in an amount not to exceed $175 1-12 million, and enter into related credit agreements, to provide 1-13 financial assistance to counties for roadway improvement projects 1-14 to serve colonias. 1-15 (b) The Authority shall issue the securities to provide 1-16 financial assistance to counties in accordance with a request for 1-17 financing from the Office of the Governor. The counties that are 1-18 to receive financial assistance, the projects, and the amount of 1-19 such assistance shall be approved by the Office of the Governor in 1-20 accordance with administrative procedures established by that 1-21 Office. 1-22 (c) The issuance of public securities under this section 1-23 shall be in accordance with and subject to Chapters 1201-1207, 1-24 1231, 1232, and 1371. 2-1 SECTION 2. This Act takes effect immediately if it receives 2-2 a vote of two-thirds of all the members elected to each house, as 2-3 provided by Section 39, Article III, Texas Constitution. If this 2-4 Act does not receive the vote necessary for immediate effect, this 2-5 Act takes effect September 1, 2001.