1-1     By:  Lucio, et al.                                    S.J.R. No. 37
 1-2           (In the Senate - Filed March 8, 2001; March 13, 2001, read
 1-3     first time and referred to Committee on Business and Commerce;
 1-4     April 9, 2001, reported adversely, with favorable Committee
 1-5     Substitute by the following vote:  Yeas 6, Nays 1; April 9, 2001,
 1-6     sent to printer.)
 1-7     COMMITTEE SUBSTITUTE FOR S.J.R. No. 37                   By:  Lucio
 1-8                           SENATE JOINT RESOLUTION
 1-9     proposing a constitutional amendment authorizing the issuance of
1-10     general obligation bonds to provide financial assistance to
1-11     counties for roadway projects to serve border colonias.
1-12           BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-13           SECTION 1.  Article III, Texas Constitution, is amended by
1-14     adding Section 49-l to read as follows:
1-15           Sec. 49-l.  (a)  To fund financial assistance to counties for
1-16     roadways to serve border colonias, the legislature by general law
1-17     may authorize the governor to authorize the Texas Public Finance
1-18     Authority or its successor to issue general obligation bonds of the
1-19     State of Texas in an aggregate amount not to exceed $175 million
1-20     and to enter into related bond enhancement agreements.  Except as
1-21     provided by Subsection (c) of this section, the proceeds from the
1-22     sale of the bonds may be used only to provide financial assistance
1-23     to counties for projects to provide access roads to connect border
1-24     colonias with public roads.  Projects may include the construction
1-25     of colonia access roads, the acquisition of materials used in
1-26     maintaining colonia access roads, and projects related to the
1-27     construction of colonia access roads, such as projects for the
1-28     drainage of the roads.
1-29           (b)  The Texas Transportation Commission may, in its
1-30     discretion and in consultation with the office of the governor,
1-31     determine what constitutes a border colonia for purposes of
1-32     selecting the counties and projects that may receive assistance
1-33     under this section.
1-34           (c)  A portion of the proceeds from the sale of the bonds and
1-35     a portion of the interest earned on the bonds may be used to pay
1-36     the costs of administering projects authorized under this section.
1-37           (d)  The bonds authorized under this section constitute a
1-38     general obligation of the state.  While any of the bonds or
1-39     interest on the bonds is outstanding and unpaid, there is
1-40     appropriated out of the general revenue fund in each fiscal year an
1-41     amount sufficient to pay the principal of and interest on the bonds
1-42     that mature or become due during the fiscal year, including an
1-43     amount sufficient to make payments under a related bond enhancement
1-44     agreement.
1-45           SECTION 2.  This proposed constitutional amendment shall be
1-46     submitted to the voters at an election to be held November 6, 2001.
1-47     The ballot shall be printed to permit voting for or against the
1-48     proposition:  "The constitutional amendment authorizing the
1-49     issuance of state general obligation bonds to provide financial
1-50     assistance to counties for roadway projects to serve border
1-51     colonias."
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