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A JOINT RESOLUTION
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proposing a constitutional amendment relating to the disposition of |
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proceeds from the development or sale of the rights to natural |
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resources or minerals in land held by Webb County for the county |
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permanent school fund. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 6, Article VII, Texas Constitution, is |
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amended to read as follows: |
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Sec. 6. (a) All lands heretofore, or hereafter granted to |
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the several counties of this State for educational purposes, are of |
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right the property of said counties respectively, to which they |
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were granted, and title thereto is vested in said counties, and no |
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adverse possession or limitation shall ever be available against |
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the title of any county. Each county may sell or dispose of its |
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lands in whole or in part, in manner to be provided by the |
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Commissioners Court of the county. Said lands, and, except as |
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provided by Subsection (b) of this section, the proceeds thereof, |
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when sold, shall be held by said counties alone as a trust for the |
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benefit of public schools therein; said proceeds to be invested in |
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bonds of the United States, the State of Texas, or counties in said |
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State, or in such other securities, and under such restrictions as |
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may be prescribed by law; and the counties shall be responsible for |
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all investments; the interest thereon, and other revenue, except |
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the principal shall be available fund. |
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(b) Webb County may: |
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(1) develop or sell the rights to natural resources or |
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minerals in lands held in trust by Webb County under this section; |
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and |
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(2) enter into an agreement with the school districts |
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for which the lands are held in trust that allows Webb County to: |
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(A) obtain from the proceeds of a disposition |
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under Subdivision (1) of this subsection reimbursement of |
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reasonable and necessary expenses incurred by Webb County in |
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connection with the disposition; and |
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(B) distribute the proceeds remaining after |
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reimbursement under Paragraph (A) of this subdivision to each |
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school district for which the lands are held in trust according to |
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each school district's scholastic population. |
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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 to authorize Webb |
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County to obtain proceeds of the county permanent school fund and |
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recover expenses from proceeds of the county permanent school fund |
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incurred by the county in a transaction to develop or sell the |
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rights to natural resources or minerals in county permanent school |
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fund property and distribute the proceeds remaining after |
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reimbursement to the school districts for which the property is |
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held in trust." |