By: King of Taylor H.J.R. No. 138
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment relating to the use of bonds
  and notes in the military value revolving loan account.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 49-n(a), Article III, Texas
  Constitution, as proposed by S.J.R. 55, 78th Legislature, Regular
  Session, 2003, is amended to read as follows:
         (a)  The legislature by general law may authorize one or more
  state agencies to issue general obligation bonds or notes of the
  State of Texas in an aggregate amount not to exceed $250 million and
  enter into related credit agreements. The proceeds from the sale of
  the bonds and notes shall be deposited in the Texas military value
  revolving loan and grant account in the state treasury or its
  successor account to be used by one or more state agencies
  designated by the legislature by general law without further
  appropriation to provide loans and grants for economic development
  projects that benefit defense-related communities, as defined by
  the legislature by general law, including projects that enhance the
  military value of military installations located in the state. The
  legislature also may
  provide by general law or appropriation for
  repayment of any debt incurred by bonds or notes issued under the
  authority of this subsection after December 31, 2015.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 3, 2015.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment allowing the
  legislature to use bonds for grants to defense-related communities
  for any related purpose that adds military value to the military
  installations within Texas."