| 1 | 1 | | 86R3757 BRG-D |
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| 2 | 2 | | By: Lucio S.B. No. 2004 |
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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 amount of certain general obligation bonds |
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| 8 | 8 | | authorized to be issued to provide financial assistance to counties |
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| 9 | 9 | | for colonia access 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 Section 49-l, Article III, Texas |
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| 14 | 14 | | Constitution, the authority shall, in accordance with requests from |
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| 15 | 15 | | 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 $275 [$175] million, as authorized |
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| 18 | 18 | | 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 86th Legislature, Regular |
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| 25 | 25 | | Session, 2019, authorizing the issuance of $100 million in |
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| 26 | 26 | | additional obligations for roadway needs in border colonias is |
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| 27 | 27 | | approved by the voters. If that amendment is not approved by the |
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| 28 | 28 | | voters, this Act has no effect. |
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