| 1 | 1 | | 81R1713 EAH-D |
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| 2 | 2 | | By: Orr H.J.R. No. 114 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A JOINT RESOLUTION |
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| 6 | 6 | | proposing a constitutional amendment to clarify references to the |
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| 7 | 7 | | permanent school fund. |
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| 8 | 8 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 9 | | SECTION 1. Section 49-b(h), Article III, Texas |
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| 10 | 10 | | Constitution, is amended to read as follows: |
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| 11 | 11 | | (h) Lands purchased and comprising a part of the Veterans' |
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| 12 | 12 | | Land Fund are declared to be held for a governmental purpose, but |
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| 13 | 13 | | the individual purchasers of those lands shall be subject to |
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| 14 | 14 | | taxation to the same extent and in the same manner as are purchasers |
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| 15 | 15 | | of lands dedicated to the Permanent [Free Public] School Fund. The |
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| 16 | 16 | | lands shall be sold to veterans in quantities, on terms, at prices, |
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| 17 | 17 | | and at fixed, variable, floating, or other rates of interest, |
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| 18 | 18 | | determined by the Board and in accordance with rules of the Board. |
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| 19 | 19 | | Notwithstanding any provisions of this section to the contrary, |
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| 20 | 20 | | lands in the Veterans' Land Fund that are offered for sale to |
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| 21 | 21 | | veterans and that are not sold may be sold or resold to the |
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| 22 | 22 | | purchasers in quantities, on terms, at prices, and at rates of |
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| 23 | 23 | | interest determined by the Board and in accordance with rules of the |
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| 24 | 24 | | Board. |
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| 25 | 25 | | SECTION 2. Sections 2 and 4, Article VII, Texas |
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| 26 | 26 | | Constitution, are amended to read as follows: |
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| 27 | 27 | | Sec. 2. All funds, lands and other property heretofore set |
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| 28 | 28 | | apart and appropriated for the support of public schools; all the |
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| 29 | 29 | | alternate sections of land reserved by the State out of grants |
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| 30 | 30 | | heretofore made or that may hereafter be made to railroads or other |
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| 31 | 31 | | corporations of any nature whatsoever; one half of the public |
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| 32 | 32 | | domain of the State; and all sums of money that may come to the State |
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| 33 | 33 | | from the sale of any portion of the same, shall constitute a |
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| 34 | 34 | | permanent [perpetual public] school fund. |
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| 35 | 35 | | Sec. 4. The lands herein set apart to the Permanent [Public |
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| 36 | 36 | | Free] School fund, shall be sold under such regulations, at such |
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| 37 | 37 | | times, and on such terms as may be prescribed by law; and the |
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| 38 | 38 | | Legislature shall not have power to grant any relief to purchasers |
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| 39 | 39 | | thereof. The proceeds of such sales must be used to acquire other |
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| 40 | 40 | | land for the Permanent [Public Free] School fund as provided by law |
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| 41 | 41 | | or the proceeds shall be invested by the comptroller of public |
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| 42 | 42 | | accounts, as may be directed by the Board of Education herein |
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| 43 | 43 | | provided for, in the bonds of the United States, the State of Texas, |
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| 44 | 44 | | or counties in said State, or in such other securities, and under |
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| 45 | 45 | | such restrictions as may be prescribed by law; and the State shall |
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| 46 | 46 | | be responsible for all investments. |
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| 47 | 47 | | SECTION 3. This proposed constitutional amendment shall be |
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| 48 | 48 | | submitted to the voters at an election to be held November 3, 2009. |
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| 49 | 49 | | The ballot shall be printed to permit voting for or against the |
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| 50 | 50 | | proposition: "The constitutional amendment to clarify references |
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| 51 | 51 | | to the permanent school fund." |
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