82R3666 SMH-D
 
  By: Pickett H.J.R. No. 63
 
 
 
 
A JOINT RESOLUTION
 
  proposing a constitutional amendment authorizing the legislature
 
  to permit a county to issue bonds or notes to finance the
 
  development or redevelopment of an unproductive, underdeveloped,
 
  or blighted area and to pledge for repayment of the bonds or notes
 
  increases in ad valorem taxes imposed by the county on property in
 
  the area.
         
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         
         SECTION 1.  Section 1-g(b), Article VIII, Texas
 
  Constitution, is amended to read as follows:
         
         (b)  The legislature by general law may authorize an
 
  incorporated city or town or a county to issue bonds or notes to
 
  finance the development or redevelopment of an unproductive,
 
  underdeveloped, or blighted area within the city, [or] town, or
 
  county and to pledge for repayment of those bonds or notes increases
 
  in ad valorem tax revenues imposed on property in the area by the
 
  city, [or] town, or county and other political subdivisions.
         
         SECTION 2.  This proposed constitutional amendment shall be
 
  submitted to the voters at an election to be held November 8, 2011.
 
  The ballot shall be printed to permit voting for or against the
 
  proposition: "The constitutional amendment authorizing the
 
  legislature to permit a county to issue bonds or notes to finance
 
  the development or redevelopment of an unproductive,
 
  underdeveloped, or blighted area and to pledge for repayment of the
 
  bonds or notes increases in ad valorem taxes imposed by the county
 
  on property in the area."