By: Raymond H.J.R. No. 142
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment relating to the disposition of
  proceeds from the development or sale of the rights to natural
  resources or minerals in land held for the county permanent school
  fund.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 6, Article VII, Texas Constitution, is
  amended to read as follows:
         Sec. 6.  (a) All lands heretofore, or hereafter granted to
  the several counties of this State for educational purposes, are of
  right the property of said counties respectively, to which they
  were granted, and title thereto is vested in said counties, and no
  adverse possession or limitation shall ever be available against
  the title of any county. Each county may sell or dispose of its
  lands in whole or in part, in manner to be provided by the
  Commissioners Court of the county. Said lands, and, except as
  provided by Subsection (b) of this section, the proceeds thereof,
  when sold, shall be held by said counties alone as a trust for the
  benefit of public schools therein; said proceeds to be invested in
  bonds of the United States, the State of Texas, or counties in said
  State, or in such other securities, and under such restrictions as
  may be prescribed by law; and the counties shall be responsible for
  all investments; the interest thereon, and other revenue, except
  the principal shall be available fund.
         (b)  A county that borders the United Mexican States with a
  population of more than 190,000 but less than 250,000 may:
               (1)  develop or sell the rights to natural resources or
  minerals in the land described by Subsection (a) of this section;
  and
               (2)  with agreement of the school district(s) for which
  the land is held in trust, obtain from the proceeds of a disposition
  under Subdivision (1) of this subsection reimbursement of the
  county's reasonable and necessary expenses incurred in connection
  with the disposition.
               (3)  distribute the remaining proceeds on a per
  scholastic basis to the school district(s) for which the land is
  held in trust.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 3, 2009.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment to authorize a county
  to recover expenses from proceeds of the county permanent school
  fund incurred by the county in a transaction to develop or sell the
  rights to natural resources or minerals in county permanent school
  fund property."