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A JOINT RESOLUTION
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proposing a constitutional amendment discontinuing the authority |
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to issue bonded indebtedness on behalf of the Cancer Prevention and |
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Research Institute of Texas. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 67(c), Article III, Texas Constitution, |
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is amended to read as follows: |
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(c) The legislature by general law may authorize the Texas |
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Public Finance Authority to provide for, issue, and sell general |
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obligation bonds of the State of Texas on behalf of the Cancer |
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Prevention and Research Institute of Texas in an amount not to |
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exceed $3 billion and to enter into related credit agreements. The |
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Texas Public Finance Authority may not issue more than $300 million |
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in bonds authorized by this subsection in a year. The bonds shall |
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be executed in the form, on the terms, and in the denominations, |
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bear interest, and be issued in installments as prescribed by the |
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Texas Public Finance Authority. The Texas Public Finance Authority |
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may not provide for, issue, or sell general obligation bonds, |
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except for refunding bonds, under this subsection after January 1, |
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2014. |
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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 5, 2013. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment discontinuing the |
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authority to issue bonded indebtedness on behalf of the Cancer |
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Prevention and Research Institute of Texas." |