By: Lucio, Hinojosa, Perry S.J.R. No. 79
         (In the Senate - Filed March 20, 2019; March 27, 2019, read
  first time and referred to Committee on Water & Rural Affairs;
  April 23, 2019, reported adversely, with favorable Committee
  Substitute by the following vote:  Yeas 7, Nays 0; April 23, 2019,
  sent to printer.)
Click here to see the committee vote
 
  COMMITTEE SUBSTITUTE FOR S.J.R. No. 79 By:  Creighton
 
 
SENATE JOINT RESOLUTION
 
 
  proposing a constitutional amendment providing for the issuance of
  additional general obligation bonds by the Texas Water Development
  Board to provide financial assistance for the development of
  certain projects in economically distressed areas.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Article III, Texas Constitution, is amended by
  adding Section 49-d-14 to read as follows:
         Sec. 49-d-14.  (a)  In addition to the bonds authorized by
  the other provisions of this article, the Texas Water Development
  Board may issue general obligation bonds, at its determination and
  on a continuing basis, for the economically distressed areas
  program account of the Texas Water Development Fund II in amounts
  such that the aggregate principal amount of the bonds issued by the
  board under this section that are outstanding at any time does not
  exceed $400 million.  The bonds shall be used to provide financial
  assistance for the development of water supply and sewer service
  projects in economically distressed areas of the state as defined
  by law.
         (b)  The additional general obligation bonds authorized by
  this section may be issued as bonds, notes, or other obligations as
  permitted by law and shall be sold in forms and denominations, on
  terms, at times, in the manner, at places, and in installments, as
  determined by the Texas Water Development Board. The bonds shall
  bear a rate or rates of interest the Texas Water Development Board
  determines. The bonds shall be incontestable after execution by
  the Texas Water Development Board, approval by the attorney
  general, and delivery to the purchaser or purchasers of the bonds.
         (c)  Section 49-d-8(e) of this article applies to the
  additional general obligation bonds authorized by this section.
  The limitation in Section 49-d-8 of this article that the Texas
  Water Development Board may not issue bonds in excess of the
  aggregate principal amount of general obligation bonds previously
  authorized for the economically distressed areas program does not
  apply to the bonds authorized by and issued under this section.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 5, 2019.
  The ballot shall be printed to provide for voting for or against the
  proposition:  "The constitutional amendment providing for the
  issuance of additional general obligation bonds by the Texas Water
  Development Board in an amount not to exceed $400 million to provide
  financial assistance for the development of certain projects in
  economically distressed areas."
 
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