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."