| 1 | 1 | | 88R6950 EAS-F |
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| 2 | 2 | | By: Campos H.J.R. No. 90 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A JOINT RESOLUTION |
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| 6 | 6 | | proposing a constitutional amendment authorizing the issuance of |
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| 7 | 7 | | general obligation bonds to provide funding for the construction, |
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| 8 | 8 | | expansion, maintenance, and operation of state mental health |
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| 9 | 9 | | facilities. |
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| 10 | 10 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Article III, Texas Constitution, is amended by |
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| 12 | 12 | | adding Section 49-q to read as follows: |
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| 13 | 13 | | Sec. 49-q. (a) The legislature by general law may authorize |
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| 14 | 14 | | the Health and Human Services Commission or that agency's successor |
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| 15 | 15 | | to provide for, issue, and sell general obligation bonds of the |
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| 16 | 16 | | State of Texas in an amount not to exceed $10 billion and to enter |
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| 17 | 17 | | into related credit agreements to provide funding for the |
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| 18 | 18 | | construction, expansion, maintenance, and operation of state |
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| 19 | 19 | | mental health facilities. The bonds shall be executed in the form, |
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| 20 | 20 | | on the terms, and in the denominations, bear interest, and be issued |
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| 21 | 21 | | in installments as prescribed by the Health and Human Services |
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| 22 | 22 | | Commission or that agency's successor. |
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| 23 | 23 | | (b) A portion of the proceeds from the sale of the bonds and |
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| 24 | 24 | | a portion of the interest earned on the bonds may be used to pay: |
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| 25 | 25 | | (1) the costs of administering projects authorized by |
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| 26 | 26 | | this section; |
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| 27 | 27 | | (2) the cost or expense of the issuance of the bonds; |
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| 28 | 28 | | (3) refunding bonds and related credit agreements |
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| 29 | 29 | | authorized by this section; and |
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| 30 | 30 | | (4) all or part of a payment owed or to be owed under a |
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| 31 | 31 | | credit agreement. |
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| 32 | 32 | | (c) The bonds authorized under this section constitute a |
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| 33 | 33 | | general obligation of the state. While any of the bonds or interest |
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| 34 | 34 | | on the bonds is outstanding and unpaid, there is appropriated out of |
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| 35 | 35 | | the first money coming into the treasury each fiscal year, not |
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| 36 | 36 | | otherwise appropriated by this constitution, an amount sufficient |
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| 37 | 37 | | to pay the principal of and interest on the bonds that mature or |
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| 38 | 38 | | become due during the fiscal year, including an amount sufficient |
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| 39 | 39 | | to make payments under a related credit agreement. |
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| 40 | 40 | | (d) The proceeds from the issuance and sale of the bonds, |
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| 41 | 41 | | and the interest earned on the bonds, are appropriated when |
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| 42 | 42 | | received by the state, and may be used as provided by this section |
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| 43 | 43 | | and any law enacted under this section without further |
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| 44 | 44 | | appropriation. |
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| 45 | 45 | | (e) Bonds issued under this section, after approval by the |
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| 46 | 46 | | attorney general, registration by the comptroller of public |
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| 47 | 47 | | accounts, and delivery to the purchasers, are incontestable and are |
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| 48 | 48 | | general obligations of the State of Texas under this constitution. |
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| 49 | 49 | | SECTION 2. This proposed constitutional amendment shall be |
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| 50 | 50 | | submitted to the voters at an election to be held November 7, 2023. |
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| 51 | 51 | | The ballot shall be printed to provide voting for or against the |
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| 52 | 52 | | proposition: "The constitutional amendment authorizing the |
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| 53 | 53 | | issuance of general obligation bonds to provide funding for the |
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| 54 | 54 | | construction, expansion, maintenance, and operation of state |
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| 55 | 55 | | mental health facilities." |
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