By:  Lucio, et al.                                    S.J.R. No. 37
 1-1                           SENATE JOINT RESOLUTION
 1-2     proposing a constitutional amendment authorizing the issuance of
 1-3     general obligation bonds to provide financial assistance to
 1-4     counties for roadway projects to serve border colonias.
 1-5           BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-6           SECTION 1.  Article III, Texas Constitution, is amended by
 1-7     adding Section 49-l to read as follows:
 1-8           Sec. 49-l.  (a)  To fund financial assistance to counties for
 1-9     roadways to serve border colonias, the legislature by general law
1-10     may authorize the governor to authorize the Texas Public Finance
1-11     Authority or its successor to issue general obligation bonds of the
1-12     State of Texas in an aggregate amount not to exceed $175 million
1-13     and to enter into related bond enhancement agreements.  Except as
1-14     provided by Subsection (c) of this section, the proceeds from the
1-15     sale of the bonds may be used only to provide financial assistance
1-16     to counties for projects to provide access roads to connect border
1-17     colonias with public roads.  Projects may include the construction
1-18     of colonia access roads, the acquisition of materials used in
1-19     maintaining colonia access roads, and projects related to the
1-20     construction of colonia access roads, such as projects for the
1-21     drainage of the roads.
1-22           (b)  The Texas Transportation Commission may, in its
1-23     discretion and in consultation with the office of the governor,
1-24     determine what constitutes a border colonia for purposes of
 2-1     selecting the counties and projects that may receive assistance
 2-2     under this section.
 2-3           (c)  A portion of the proceeds from the sale of the bonds and
 2-4     a portion of the interest earned on the bonds may be used to pay
 2-5     the costs of administering projects authorized under this section.
 2-6           (d)  The bonds authorized under this section constitute a
 2-7     general obligation of the state.  While any of the bonds or
 2-8     interest on the bonds is outstanding and unpaid, there is
 2-9     appropriated out of the general revenue fund in each fiscal year an
2-10     amount sufficient to pay the principal of and interest on the bonds
2-11     that mature or become due during the fiscal year, including an
2-12     amount sufficient to make payments under a related bond enhancement
2-13     agreement.
2-14           SECTION 2.  This proposed constitutional amendment shall be
2-15     submitted to the voters at an election to be held November 6, 2001.
2-16     The ballot shall be printed to permit voting for or against the
2-17     proposition:  "The constitutional amendment authorizing the
2-18     issuance of state general obligation bonds to provide financial
2-19     assistance to counties for roadway projects to serve border
2-20     colonias."