83R2700 CJC-D
By: Laubenberg H.J.R. No. 64
A JOINT RESOLUTION
proposing a constitutional amendment discontinuing the authority
to issue bonded indebtedness on behalf of the Cancer Prevention and
Research Institute of Texas.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 67(c), Article III, Texas Constitution,
is amended to read as follows:
(c) The legislature by general law may authorize the Texas
Public Finance Authority to provide for, issue, and sell general
obligation bonds of the State of Texas on behalf of the Cancer
Prevention and Research Institute of Texas in an amount not to
exceed $3 billion and to enter into related credit agreements. The
Texas Public Finance Authority may not issue more than $300 million
in bonds authorized by this subsection in a year. The bonds shall
be executed in the form, on the terms, and in the denominations,
bear interest, and be issued in installments as prescribed by the
Texas Public Finance Authority. The Texas Public Finance Authority
may not provide for, issue, or sell general obligation bonds,
except for refunding bonds, under this subsection after January 1,
2014.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 5, 2013.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment discontinuing the
authority to issue bonded indebtedness on behalf of the Cancer
Prevention and Research Institute of Texas."