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