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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the borrowing of |
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money by a state transportation agency for transportation-related |
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projects. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 49-m(b), Article III, Texas |
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Constitution, is amended to read as follows: |
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(b) [Notes issued or a loan obtained under this section may
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not have a term of more than two years.] The legislature may |
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appropriate money from any source, including money dedicated by |
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Sections 7-a and 7-b, Article VIII, of this constitution for the |
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purpose of paying a debt created by the notes or loan. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 6, 2007. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment authorizing the |
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borrowing of money by a state transportation agency for |
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transportation-related projects." |