By: Johnson S.J.R. No. 70
SENATE JOINT RESOLUTION
proposing a constitutional amendment authorizing the issuance of
general obligation bonds for conducting a program to create
additional housing for individuals with an intellectual or
developmental disability.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Article III, Texas Constitution, is amended by
adding Section 68 to read as follows:
Sec. 68. (a) The legislature by general law may authorize
the Texas Public Finance Authority or its successor in function to
provide for, issue, and sell general obligation bonds of the State
of Texas in an amount not to exceed $10 million for the purpose of
funding a program to create additional housing for individuals with
an intellectual or developmental disability.
(b) Proceeds from the sale of the bonds shall be deposited
in separate funds or accounts, as provided by general law, in the
state treasury to be used by the Health and Human Services
Commission or its successor in function to conduct the program
described by this section.
(c) The bond proceeds may be used to pay the costs of issuing
the bonds and any administrative expense related to the bonds.
(d) While any of the bonds or interest on the bonds
authorized by this section is outstanding and unpaid, from the
first money coming into the state treasury in each fiscal year not
otherwise appropriated by this constitution, an amount sufficient
to pay the principal of and interest on bonds that mature or become
due during the fiscal year and to make payments that become due
under a related credit agreement during the fiscal year is
appropriated, less the amount in the sinking fund at the close of
the previous fiscal year.
(e) Bonds issued under this section, after approval by the
attorney general, registration by the comptroller of public
accounts, and delivery to the purchasers, are incontestable and are
general obligations of the State of Texas under this constitution.
(f) The Texas Public Finance Authority shall consider using
a business whose principal place of business is located in this
state to issue the bonds authorized by this section and shall
include using a historically underutilized business as defined by
general law.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 5, 2019.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment authorizing the
issuance of general obligation bonds for conducting a program to
create additional housing for individuals with an intellectual or
developmental disability."