86R3757 BRG-D
By: Lucio S.B. No. 2004
A BILL TO BE ENTITLED
AN ACT
relating to the amount of certain general obligation bonds
authorized to be issued to provide financial assistance to counties
for colonia access 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 Section 49-l, 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 $275 [$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 86th Legislature, Regular
Session, 2019, authorizing the issuance of $100 million in
additional obligations for roadway needs in border colonias is
approved by the voters. If that amendment is not approved by the
voters, this Act has no effect.