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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing Bexar County to |
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issue bonds or notes to finance the acquisition of real property and |
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the construction of a building or facility on the property for use |
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by an institution of higher education and to pledge for repayment of |
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those bonds or notes increases in revenues from ad valorem taxes |
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imposed by the county and other political subdivisions on property |
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located in a designated area of the county. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1-g, Article VIII, Texas Constitution, |
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is amended by adding Subsection (c) to read as follows: |
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(c) The legislature by general law may authorize Bexar |
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County to issue bonds or notes to finance the acquisition of real |
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property and construction of a building or facility on the property |
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for use by an institution of higher education selected by the county |
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and to pledge for repayment of those bonds or notes increases in |
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revenues from ad valorem taxes imposed by the county and other |
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political subdivisions on property in an area of the county |
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designated by the county that includes the real property on which |
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the building or facility is proposed to be located or is located. |
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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 3, 2009. |
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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 Bexar |
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County to issue bonds or notes to finance the acquisition of real |
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property and the construction of a building or facility on the |
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property for use by an institution of higher education and to pledge |
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for repayment of those bonds or notes increases in revenues from ad |
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valorem taxes imposed by the county and other political |
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subdivisions on property located in a designated area of the |
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county." |