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A JOINT RESOLUTION
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proposing a constitutional amendment to require a supermajority |
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vote to authorize a political subdivision to issue general |
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obligation bonds. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article XVI, Texas Constitution, is amended by |
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adding Section 62 to read as follows: |
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Sec. 62. Notwithstanding any other provision of this |
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constitution, a political subdivision may not issue general |
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obligation bonds unless at least two-thirds of the voters voting at |
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the election called to authorize the issuance vote in favor of the |
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issuance. |
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SECTION 2. The following temporary provision is added to |
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the Texas Constitution: |
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TEMPORARY PROVISION. (a) This temporary provision applies |
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to the constitutional amendment proposed by the 89th Legislature, |
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Regular Session, 2025, to require a supermajority vote to authorize |
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a political subdivision to issue general obligation bonds. |
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(b) Section 62, Article XVI, of this constitution takes |
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effect January 1, 2026, and applies only to the issuance of general |
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obligation bonds authorized by the voters at an election ordered on |
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or after that date. |
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(c) This temporary provision expires January 1, 2027. |
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SECTION 3. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 4, 2025. |
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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 require a |
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supermajority vote to authorize a political subdivision to issue |
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general obligation bonds." |