By Lucio S.J.R. No. 41 77R6658 DWS-D A JOINT RESOLUTION 1-1 proposing a constitutional amendment providing for authorization of 1-2 the borrowing of money on a short-term basis by a state 1-3 transportation agency for transportation-related projects. 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-k to read as follows: 1-7 Sec. 49-k. (a) The legislature may authorize the Texas 1-8 Transportation Commission or its successor to borrow money from the 1-9 state treasury or any other source to carry out the functions of 1-10 the commission and any agency over which the commission has 1-11 jurisdiction. 1-12 (b) A loan under this section may not have a term of more 1-13 than one year. A debt created by the loan is not a general 1-14 obligation of the state and is payable only as authorized by 1-15 legislative appropriation. 1-16 SECTION 2. This proposed constitutional amendment shall be 1-17 submitted to the voters at an election to be held November 6, 2001. 1-18 The ballot shall be printed to permit voting for or against the 1-19 proposition: "The constitutional amendment providing for 1-20 authorization of the borrowing of money on a short-term basis by a 1-21 state transportation agency for transportation-related projects."