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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 for the county permanent school |
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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) A county that borders the United Mexican States with a |
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population of more than 190,000 but less than 250,000 may: |
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(1) develop or sell the rights to natural resources or |
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minerals in the land described by Subsection (a) of this section; |
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and |
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(2) with agreement of the school district(s) for which |
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the land is held in trust, obtain from the proceeds of a disposition |
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under Subdivision (1) of this subsection reimbursement of the |
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county's reasonable and necessary expenses incurred in connection |
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with the disposition. |
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(3) distribute the remaining proceeds on a per |
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scholastic basis to the school district(s) for which the land is |
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held in trust. |
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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 a county |
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to recover expenses from proceeds of the county permanent school |
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fund 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." |