| 1 | 1 | | By: Pickett, Deshotel H.J.R. No. 109 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A JOINT RESOLUTION |
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| 5 | 5 | | proposing a constitutional amendment authorizing the legislature |
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| 6 | 6 | | to permit a county to issue bonds or notes to finance transportation |
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| 7 | 7 | | and infrastructure projects in a defined area to be repaid from |
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| 8 | 8 | | increases in revenue from ad valorem taxes in the area. |
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| 9 | 9 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Article VIII, Texas Constitution, is amended by |
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| 11 | 11 | | adding Section 1-p to read as follows: |
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| 12 | 12 | | Sec. 1-p. The legislature by general law may authorize a |
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| 13 | 13 | | county to issue bonds or notes to finance a transportation or |
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| 14 | 14 | | infrastructure project in a defined area of the county and to pledge |
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| 15 | 15 | | for repayment of those bonds or notes increases in revenues from ad |
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| 16 | 16 | | valorem taxes imposed on property in the area by the county or other |
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| 17 | 17 | | political subdivisions. |
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| 18 | 18 | | SECTION 2. This proposed constitutional amendment shall be |
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| 19 | 19 | | submitted to the voters at an election to be held November 3, 2015. |
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| 20 | 20 | | The ballot shall be printed to permit voting for or against the |
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| 21 | 21 | | proposition: "The constitutional amendment authorizing the |
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| 22 | 22 | | legislature to permit a county to have the same ability as a |
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| 23 | 23 | | municipality to issue bonds or notes to finance transportation and |
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| 24 | 24 | | infrastructure projects in a defined area to be repaid from revenue |
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| 25 | 25 | | derived from a reinvestment zone |
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| 26 | 26 | | ." |
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