By: Lucio S.J.R. No. 20
 
 
 
   
 
proposing a constitutional amendment providing for the issuance of
additional general obligation bonds by the Texas Water Development
Board to provide assistance to economically distressed areas.
       BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
       SECTION 1.  Article III, Texas Constitution, is amended by
adding Section 49-d-10 to read as follows:
       Sec. 49-d-10.  (a)  The Texas Water Development Board may
issue additional general obligation bonds, at its determination,
for the economically distressed areas program account of the Texas
Water Development Fund II, in an amount not to exceed $250 million.
The bonds shall be used to provide financial assistance to
economically distressed areas of the state as defined by law.
       (b)  Section 49-d-8(e) of this article applies to the bonds
authorized by this section.
       SECTION 2.  This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 6, 2007.
The ballot shall be printed to provide for voting for or against the
proposition: "The constitutional amendment providing for the
issuance of additional general obligation bonds by the Texas Water
Development Board in an amount not to exceed $250 million to provide
assistance to economically distressed areas."