Bill Text: TX HJR11 | 2019-2020 | 86th Legislature | Engrossed


Bill Title: Proposing a constitutional amendment providing for the issuance of additional general obligation bonds by the Texas Water Development Board to provide financial assistance for the development of certain projects in economically distressed areas.

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2019-04-16 - Referred to Water & Rural Affairs [HJR11 Detail]

Download: Texas-2019-HJR11-Engrossed.html
  86R908 JAM-D
 
  By: González of El Paso, Guillen, Sheffield, H.J.R. No. 11
      Murr, Walle, et al.
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment providing for the issuance of
  additional general obligation bonds by the Texas Water Development
  Board to provide financial assistance for the development of
  certain projects in economically distressed areas.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 49-d-10, Article III, Texas
  Constitution, is amended by adding Subsections (a-1) and (a-2) to
  read as follows:
         (a-1)  In addition to the bonds authorized under Subsection
  (a) of this section, the Texas Water Development Board may issue
  additional general obligation bonds, at its determination, for the
  economically distressed areas program account of the Texas Water
  Development Fund II, in an amount not to exceed $200 million. The
  bonds shall be used to provide financial assistance for the
  development of water supply, sewer service, and drainage projects
  in economically distressed areas of the state as defined by law.
         (a-2)  The additional general obligation bonds authorized by
  Subsection (a-1) of this section may be issued as bonds, notes, or
  other obligations as permitted by law and shall be sold in forms and
  denominations, on terms, at times, in the manner, at places, and in
  installments, as determined by the Texas Water Development Board.
  The bonds shall bear a rate or rates of interest the Texas Water
  Development Board determines. The bonds authorized by that
  subsection shall be incontestable after execution by the Texas
  Water Development Board, approval by the attorney general, and
  delivery to the purchaser or purchasers of the bonds.
         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 provide for voting for or against the
  proposition: "The constitutional amendment providing for the
  issuance of additional general obligation bonds by the Texas Water
  Development Board in an amount not to exceed $200 million to provide
  financial assistance for the development of certain projects in
  economically distressed areas."
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