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A JOINT RESOLUTION
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proposing a constitutional amendment to authorize the legislature |
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to vest the power to invest and manage certain public funds in |
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certain officers, boards, and entities. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article III, Texas Constitution, is amended by |
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adding a new Section 63 to read as follows: |
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Sec. 63. INVESTMENT AND MANAGEMENT OF PUBLIC FUNDS. |
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Notwithstanding any other provision in this constitution, the |
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legislature by law may vest the power to invest and manage any |
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public funds, including funds established by this constitution |
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other than the fund established under Article VII, Section 11, in |
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any public officer of this state, a board composed of public |
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officers of this state, or an entity that is governed by appointees |
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of public officers of this state. |
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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, 2019. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment to authorize the |
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legislature to vest the power to invest and manage certain public |
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funds in public officers, boards composed of public officers, or |
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an |
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entity that is governed by appointees of public officers. |