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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 to counties |
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for colonia 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 Section 49-l, Article III, Texas |
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Constitution, the authority shall, in accordance with requests from |
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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 $275 [$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 86th Legislature, Regular |
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Session, 2019, authorizing the issuance of $100 million in |
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additional obligations for roadway needs in border colonias is |
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approved by the voters. If that amendment is not approved by the |
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voters, this Act has no effect. |