1-1                           SENATE JOINT RESOLUTION
 1-2     proposing a constitutional amendment authorizing the issuance of
 1-3     general obligation bonds or notes to provide financial assistance
 1-4     to 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 or
1-12     notes of the State of Texas in an aggregate amount not to exceed
1-13     $175 million and to enter into related credit agreements.  Except
1-14     as provided by Subsection (c) of this section, the proceeds from
1-15     the sale of the bonds and notes may be used only to provide
1-16     financial assistance to counties for projects to provide access
1-17     roads to connect border colonias with public roads.  Projects may
1-18     include the construction of colonia access roads, the acquisition
1-19     of materials used in maintaining colonia access roads, and projects
1-20     related to the construction of colonia access roads, such as
1-21     projects for the 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
1-25     selecting the counties and projects that may receive assistance
 2-1     under this section.
 2-2           (c)  A portion of the proceeds from the sale of the bonds and
 2-3     notes and a portion of the interest earned on the bonds and notes
 2-4     may be used to pay:
 2-5                 (1)  the costs of administering projects authorized
 2-6     under this section; and
 2-7                 (2)  all or part of a payment owed or to be owed under
 2-8     a credit agreement.
 2-9           (d)  The bonds and notes authorized under this section
2-10     constitute a general obligation of the state.  While any of the
2-11     bonds or notes or interest on the bonds or notes is outstanding and
2-12     unpaid, there is appropriated out of the general revenue fund in
2-13     each fiscal year an amount sufficient to pay the principal of and
2-14     interest on the bonds and notes that mature or become due during
2-15     the fiscal year, including an amount sufficient to make payments
2-16     under a related credit agreement.
2-17           SECTION 2.  This proposed constitutional amendment shall be
2-18     submitted to the voters at an election to be held November 6, 2001.
2-19     The ballot shall be printed to permit voting for or against the
2-20     proposition:  "The constitutional amendment authorizing the
2-21     issuance of state general obligation bonds and notes to provide
2-22     financial assistance to counties for roadway projects to serve
2-23     border colonias."
         _______________________________     _______________________________
             President of the Senate              Speaker of the House
               I hereby certify that S.J.R. No. 37 was adopted by the Senate
         on April 18, 2001, by the following vote:  Yeas 28, Nays 2, one
         present, not voting; and that the Senate concurred in House
         amendment on May 24, 2001, by the following vote:  Yeas 30, Nays 0,
         one present, not voting.
                                             _______________________________
                                                 Secretary of the Senate
               I hereby certify that S.J.R. No. 37 was adopted by the House,
         with amendment, on May 18, 2001, by the following vote:  Yeas 137,
         Nays 1, one present, not voting.
                                             _______________________________
                                                Chief Clerk of the House