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A BILL TO BE ENTITLED
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AN ACT
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relating to the amount of certain general obligation bonds |
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authorized to be issued to provide financial assistance for colonia |
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access roadway projects to serve border colonias. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1403.002(a), Government Code, is amended |
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to read as follows: |
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(a) As provided by Sections 49-l(a) and (a-1) [Section
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49-1], Article III, Texas Constitution, the authority shall, in |
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accordance with requests from the office of the governor: |
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(1) issue general obligation bonds and notes in an |
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aggregate amount not to exceed $235 [$175] million, as authorized |
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by the office of the governor under Subsection (b); and |
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(2) as directed by the Texas Department of |
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Transportation, distribute the proceeds from the sale of the bonds |
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and notes to counties to provide financial assistance for colonia |
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access roadway projects to serve border colonias. |
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SECTION 2. This Act takes effect on the date on which the |
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constitutional amendment proposed by the 82nd Legislature, Regular |
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Session, 2011, authorizing the issuance of up to $60 million in |
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general obligation bonds or notes to provide financial assistance |
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to counties for roadway projects to serve colonias is approved by |
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the voters. If that amendment is not approved by the voters, this |
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Act has no effect. |