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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the issuance of |
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additional obligations to provide financial assistance to counties |
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for roadways to serve border colonias. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 49-l(a), Article III, Texas |
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Constitution, is amended to read as follows: |
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(a) To fund financial assistance to counties for roadways to |
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serve border colonias, the legislature by general law may authorize |
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the governor to authorize the Texas Public Finance Authority or its |
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successor to issue general obligation bonds or notes of the State of |
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Texas in an aggregate amount not to exceed $275 [$175] million and |
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to enter into related credit agreements. Except as provided by |
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Subsection (c) of this section, the proceeds from the sale of the |
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bonds and notes may be used only to provide financial assistance to |
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counties for border colonia roadway projects, including projects to |
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provide access roads to connect border colonias with public roads |
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outside the colonias. Projects may include the construction of |
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colonia roads and access roads, the acquisition of materials used |
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in maintaining colonia roads and access roads, and projects related |
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to the construction of colonia roads and access roads, such as |
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projects for the drainage of the roads. |
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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 3, 2015. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment providing for the |
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authorization of the issuance of $100 million in additional bonds |
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for roadway needs in border colonias." |