LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                              April 17, 2001
  
  
          TO:  Honorable Clyde Alexander, Chair, House Committee on
               Transportation
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  HJR13  by Oliveira (Proposing a constitutional amendment
               authorizing the legislature to provide for the issuance
               of bonds for certain improvements to the state highway
               system.), As Introduced
  
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*  No significant fiscal implication to the State is anticipated,        *
*  other than the cost of publication.                                   *
*                                                                        *
*  The cost to the state for publication of the resolution is $80,000.   *
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The resolution would propose a constitutional amendment to authorize the
Texas Transportation Commission to issue bonds and enter into bond
enhancement agreements that are payable from revenues received from the
Federal Highway Trust Fund and other revenue deposited to the credit of
the Sate Highway Fund.  The resolution would establish requirements and
guidelines for annual debt service on specific bonds and would
appropriate an amount each fiscal year from eligible revenue sufficient
to pay any outstanding principal, interest, and bond-related costs
eligible for reimbursement under federal law.

Costs related to the enactment of this resolution are provided in the
cost estimate for the enabling legislation.

The proposed amendment would be submitted to voters during the election
to be held November 6, 2001.  The resolution provides that the authority
to issue bonds under this section expires on September 1, 2005, unless
certain conditions are met before that date and that expiration of the
issuance authority does not affect the validity of a bond issued before
the authority expired.
  
Local Government Impact
  
No fiscal implication to units of local government is anticipated.
  
  
Source Agencies:   352   Texas Bond Review Board, 601   Texas Department
                   of Transportation, 304   Comptroller of Public
                   Accounts
LBB Staff:         JK, JO, RT, MW