| 1 | 1 | | 81R9526 MTB-D |
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| 2 | 2 | | By: Lucio S.B. No. 2286 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the issuance of additional state general obligation |
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| 8 | 8 | | bonds and notes to provide financial assistance to counties for |
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| 9 | 9 | | roadway projects to serve border colonias. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 1403.002(a), Government Code, is amended |
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| 12 | 12 | | to read as follows: |
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| 13 | 13 | | (a) As provided by Sections [Section] 49-1 and 49-q, Article |
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| 14 | 14 | | III, Texas Constitution, the authority shall, in accordance with |
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| 15 | 15 | | requests from the office of the governor: |
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| 16 | 16 | | (1) issue general obligation bonds and notes in an |
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| 17 | 17 | | aggregate amount not to exceed $350 million [$175 million], as |
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| 18 | 18 | | authorized by the office of the governor under Subsection (b); and |
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| 19 | 19 | | (2) as directed by the Texas Department of |
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| 20 | 20 | | Transportation, distribute the proceeds from the sale of the bonds |
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| 21 | 21 | | and notes to counties to provide financial assistance for colonia |
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| 22 | 22 | | access roadway projects to serve border colonias. |
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| 23 | 23 | | SECTION 2. This Act takes effect on the date on which the |
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| 24 | 24 | | constitutional amendment proposed by the 81st Legislature, Regular |
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| 25 | 25 | | Session, 2009, authorizing the issuance of additional state general |
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| 26 | 26 | | obligation bonds and notes to provide financial assistance to |
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| 27 | 27 | | counties for roadway projects to serve border colonias, takes |
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| 28 | 28 | | effect. If that amendment is not approved by the voters, this Act |
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| 29 | 29 | | has no effect. |
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