| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the issuance of certain bonds for the benefit of the |
|
|
Parks and Wildlife Department. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 1232.1115, Government Code, is amended |
|
|
by adding Subsection (d) to read as follows: |
|
|
(d) This subsection applies only to general obligation |
|
|
bonds authorized under Section 50-f, Article III, Texas |
|
|
Constitution, that remain unissued as of August 31, 2007, to the |
|
|
extent that the proceeds of those bonds were intended to be |
|
|
allocated to the Parks and Wildlife Department in accordance with |
|
|
the department's estimate of its construction, repair, and |
|
|
equipment needs as communicated to and considered by the 77th |
|
|
Legislature, Regular Session, 2001, in connection with the 77th |
|
|
Legislature's consideration of House Joint Resolution 97. Not |
|
|
later than August 31, 2009, the authority shall issue all remaining |
|
|
unissued general obligation bonds authorized under Section 50-f, |
|
|
Article III, Texas Constitution, to the extent that the unissued |
|
|
bonds were intended for the construction, repair, and equipment |
|
|
needs of the Parks and Wildlife Department. The cumulative amount |
|
|
of bonds issued under this subsection may not exceed $46 million. |
|
|
Proceeds from the sale of bonds under this subsection shall be |
|
|
credited to the Parks and Wildlife Department and spent by the |
|
|
department in accordance with legislative appropriations for: |
|
|
(1) construction and repair projects at state parks, |
|
|
state historic sites, state natural areas, state trailways, and |
|
|
other destinations in the state park system; and |
|
|
(2) the purchase of equipment needed at a destination |
|
|
described by Subdivision (1). |
|
|
SECTION 2. This Act takes effect September 1, 2007. |