Texas 2019 - 86th Regular

Texas Senate Bill SJR79 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	S.J.R. No. 79
	1	+	86R34308 JAM-F
	2	+	By: Lucio, et al. S.J.R. No. 79
	3	+	(González of El Paso, Guillen, Sheffield, Murr,
	4	+	Walle, et al.)
2	5
3	6
	7	+	A JOINT RESOLUTION
4	8		proposing a constitutional amendment providing for the issuance of
5	9		additional general obligation bonds by the Texas Water Development
6	10		Board to provide financial assistance for the development of
7	11		certain projects in economically distressed areas.
8	12		BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	13		SECTION 1. Article III, Texas Constitution, is amended by
10	14		adding Section 49-d-14 to read as follows:
11	15		Sec. 49-d-14. (a) In addition to the bonds authorized by
12	16		the other provisions of this article, the Texas Water Development
13	17		Board may issue general obligation bonds, at its determination and
14	18		on a continuing basis, for the economically distressed areas
15	19		program account of the Texas Water Development Fund II in amounts
16	20		such that the aggregate principal amount of the bonds issued by the
17	21		board under this section that are outstanding at any time does not
18	22		exceed $200 million. The bonds shall be used to provide financial
19	23		assistance for the development of water supply and sewer service
20	24		projects in economically distressed areas of the state as defined
21	25		by law.
22	26		(b) The additional general obligation bonds authorized by
23	27		this section may be issued as bonds, notes, or other obligations as
24	28		permitted by law and shall be sold in forms and denominations, on
25	29		terms, at times, in the manner, at places, and in installments, as
26	30		determined by the Texas Water Development Board. The bonds shall
27	31		bear a rate or rates of interest the Texas Water Development Board
28	32		determines. The bonds shall be incontestable after execution by
29	33		the Texas Water Development Board, approval by the attorney
30	34		general, and delivery to the purchaser or purchasers of the bonds.
31	35		(c) Section 49-d-8(e) of this article applies to the
32	36		additional general obligation bonds authorized by this section.
33	37		The limitation in Section 49-d-8 of this article that the Texas
34	38		Water Development Board may not issue bonds in excess of the
35	39		aggregate principal amount of general obligation bonds previously
36	40		authorized for the economically distressed areas program does not
37	41		apply to the bonds authorized by and issued under this section.
38	42		SECTION 2. This proposed constitutional amendment shall be
39	43		submitted to the voters at an election to be held November 5, 2019.
40	44		The ballot shall be printed to provide for voting for or against the
41	45		proposition: "The constitutional amendment providing for the
42	46		issuance of additional general obligation bonds by the Texas Water
43	47		Development Board in an amount not to exceed $200 million to provide
44	48		financial assistance for the development of certain projects in
45	49		economically distressed areas."
46		-	______________________________ ______________________________
47		-	President of the Senate Speaker of the House
48		-	I hereby certify that S.J.R. No. 79 was adopted by the Senate
49		-	on May 8, 2019, by the following vote: Yeas 21, Nays 10; and that
50		-	the Senate concurred in House amendment on May 25, 2019, by the
51		-	following vote: Yeas 22, Nays 8.
52		-	______________________________
53		-	Secretary of the Senate
54		-	I hereby certify that S.J.R. No. 79 was adopted by the House,
55		-	with amendment, on May 21, 2019, by the following vote: Yeas 114,
56		-	Nays 27, two present not voting.
57		-	______________________________
58		-	Chief Clerk of the House
59		-	Received:
60		-	______________________________
61		-	Date
62		-	______________________________
63		-	Secretary of State