| |
| |
|
|
A JOINT RESOLUTION
|
|
|
proposing a constitutional amendment regarding the authorization |
|
|
of certain general obligation bonds or notes to provide financial |
|
|
assistance to counties for roadway projects to serve colonias. |
|
|
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 49-l, Article III, Texas Constitution, |
|
|
is amended by adding Subsection (a-1) to read as follows: |
|
|
(a-1) The legislature by general law may authorize the |
|
|
governor to authorize the Texas Public Finance Authority or its |
|
|
successor to issue under Subsection (a) of this section additional |
|
|
general obligation bonds or notes of the State of Texas in an |
|
|
aggregate amount not to exceed $60 million and to enter into related |
|
|
credit agreements. |
|
|
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 provide for voting for or against the |
|
|
proposition: "The constitutional amendment authorizing the |
|
|
issuance of up to $60 million in general obligation bonds or notes |
|
|
to provide financial assistance to counties for roadway projects to |
|
|
serve colonias." |