82R3666 SMH-D

By: Pickett H.J.R. No. 63

A JOINT RESOLUTION

proposing a constitutional amendment authorizing the legislature

to permit a county to issue bonds or notes to finance the

development or redevelopment of an unproductive, underdeveloped,

or blighted area and to pledge for repayment of the bonds or notes

increases in ad valorem taxes imposed by the county on property in

the area.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 1-g(b), Article VIII, Texas

Constitution, is amended to read as follows:

(b) The legislature by general law may authorize an

incorporated city or town or a county to issue bonds or notes to

finance the development or redevelopment of an unproductive,

underdeveloped, or blighted area within the city, [or] town, or

county and to pledge for repayment of those bonds or notes increases

in ad valorem tax revenues imposed on property in the area by the

city, [or] town, or county and other political subdivisions.

SECTION 2. This proposed constitutional amendment shall be

submitted to the voters at an election to be held November 8, 2011.

The ballot shall be printed to permit voting for or against the

proposition: "The constitutional amendment authorizing the

legislature to permit a county to issue bonds or notes to finance

the development or redevelopment of an unproductive,

underdeveloped, or blighted area and to pledge for repayment of the

bonds or notes increases in ad valorem taxes imposed by the county

on property in the area."