77R14451 JJT-D                          
         By Lucio, et al.                                      S.J.R. No. 37
         Substitute the following for S.J.R. No. 37:
         By Wise                                           C.S.S.J.R. No. 37
                                 A JOINT RESOLUTION
 1-1     proposing a constitutional amendment authorizing the issuance of
 1-2     general obligation bonds or notes to provide financial assistance
 1-3     to counties for roadway projects to serve border colonias.
 1-4           BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1.  Article III, Texas Constitution, is amended by
 1-6     adding Section 49-l to read as follows:
 1-7           Sec. 49-l.  (a)  To fund financial assistance to counties for
 1-8     roadways to serve border colonias, the legislature by general law
 1-9     may authorize the governor to authorize the Texas Public Finance
1-10     Authority or its successor to issue general obligation bonds or
1-11     notes of the State of Texas in an aggregate amount not to exceed
1-12     $175 million and to enter into related credit agreements.  Except
1-13     as provided by Subsection (c) of this section, the proceeds from
1-14     the sale of the bonds and notes may be used only to provide
1-15     financial assistance to counties for projects to provide access
1-16     roads to connect border colonias with public roads.  Projects may
1-17     include the construction of colonia access roads, the acquisition
1-18     of materials used in maintaining colonia access roads, and projects
1-19     related to the construction of colonia access roads, such as
1-20     projects for the drainage of the roads.
1-21           (b)  The Texas Transportation Commission may, in its
1-22     discretion and in consultation with the office of the governor,
 2-1     determine what constitutes a border colonia for purposes of
 2-2     selecting the counties and projects that may receive assistance
 2-3     under this section.
 2-4           (c)  A portion of the proceeds from the sale of the bonds and
 2-5     notes and a portion of the interest earned on the bonds and notes
 2-6     may be used to pay:
 2-7                 (1)  the costs of administering projects authorized
 2-8     under this section; and
 2-9                 (2)  all or part of a payment owed or to be owed under
2-10     a credit agreement.
2-11           (d)  The bonds and notes authorized under this section
2-12     constitute a general obligation of the state.  While any of the
2-13     bonds or notes or interest on the bonds or notes is outstanding and
2-14     unpaid, there is appropriated out of the general revenue fund in
2-15     each fiscal year an amount sufficient to pay the principal of and
2-16     interest on the bonds and notes that mature or become due during
2-17     the fiscal year, including an amount sufficient to make payments
2-18     under a related credit agreement.
2-19           SECTION 2.  This proposed constitutional amendment shall be
2-20     submitted to the voters at an election to be held November 6, 2001.
2-21     The ballot shall be printed to permit voting for or against the
2-22     proposition:  "The constitutional amendment authorizing the
2-23     issuance of state general obligation bonds and notes to provide
2-24     financial assistance to counties for roadway projects to serve
2-25     border colonias."