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