Texas 2019 - 86th Regular

Texas House Bill HJR11 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		86R908 JAM-D
2		-	By: González of El Paso, Guillen, Sheffield, H.J.R. No. 11
3		-	Murr, Walle, et al.
	2	+	By: González of El Paso, Guillen H.J.R. No. 11
4	3
5	4
6	5		A JOINT RESOLUTION
7	6		proposing a constitutional amendment providing for the issuance of
8	7		additional general obligation bonds by the Texas Water Development
9	8		Board to provide financial assistance for the development of
10	9		certain projects in economically distressed areas.
11	10		BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
12	11		SECTION 1. Section 49-d-10, Article III, Texas
13	12		Constitution, is amended by adding Subsections (a-1) and (a-2) to
14	13		read as follows:
15	14		(a-1) In addition to the bonds authorized under Subsection
16	15		(a) of this section, the Texas Water Development Board may issue
17	16		additional general obligation bonds, at its determination, for the
18	17		economically distressed areas program account of the Texas Water
19	18		Development Fund II, in an amount not to exceed $200 million. The
20	19		bonds shall be used to provide financial assistance for the
21	20		development of water supply, sewer service, and drainage projects
22	21		in economically distressed areas of the state as defined by law.
23	22		(a-2) The additional general obligation bonds authorized by
24	23		Subsection (a-1) of this section may be issued as bonds, notes, or
25	24		other obligations as permitted by law and shall be sold in forms and
26	25		denominations, on terms, at times, in the manner, at places, and in
27	26		installments, as determined by the Texas Water Development Board.
28	27		The bonds shall bear a rate or rates of interest the Texas Water
29	28		Development Board determines. The bonds authorized by that
30	29		subsection shall be incontestable after execution by the Texas
31	30		Water Development Board, approval by the attorney general, and
32	31		delivery to the purchaser or purchasers of the bonds.
33	32		SECTION 2. This proposed constitutional amendment shall be
34	33		submitted to the voters at an election to be held November 5, 2019.
35	34		The ballot shall be printed to provide for voting for or against the
36	35		proposition: "The constitutional amendment providing for the
37	36		issuance of additional general obligation bonds by the Texas Water
38	37		Development Board in an amount not to exceed $200 million to provide
39	38		financial assistance for the development of certain projects in
40	39		economically distressed areas."