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