| |
| |
|
|
A JOINT RESOLUTION
|
|
|
proposing constitutional amendments relating to the funding of |
|
|
certain water projects. |
|
|
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
ARTICLE 1. FEES |
|
|
SECTION 1.01. Article III, Texas Constitution, is amended |
|
|
by adding Section 49-d-11 to read as follows: |
|
|
Sec. 49-d-11. (a) If the legislature requires the Texas |
|
|
Water Development Board to adopt a state water plan, the |
|
|
legislature by general law shall provide for the imposition by the |
|
|
state of one or more fees, the proceeds of which must be deposited |
|
|
to the credit of a special fund in the state treasury to be known as |
|
|
the state water implementation fund for Texas. |
|
|
(b) Money deposited to the credit of the state water |
|
|
implementation fund for Texas and interest earned on the investment |
|
|
of money in that fund may be appropriated only to the Texas Water |
|
|
Development Board and used only to fund projects included in the |
|
|
state water plan. |
|
|
SECTION 1.02. 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 requiring the |
|
|
legislature to provide for the imposition of one or more fees to |
|
|
fund projects included in the state water plan." |
|
|
ARTICLE 2. BONDING AUTHORITY |
|
|
SECTION 2.01. Article III, Texas Constitution, is amended |
|
|
by adding Section 49-d-12 to read as follows: |
|
|
Sec. 49-d-12. (a) In addition to the bonds authorized by |
|
|
the other provisions of this article, the Texas Water Development |
|
|
Board may issue general obligation bonds, at its determination and |
|
|
on a continuing basis, for one or more accounts of the Texas Water |
|
|
Development Fund II in amounts such that the aggregate principal |
|
|
amount of the bonds issued by the board under this section that are |
|
|
outstanding at any time does not exceed $6 billion. |
|
|
(b) Section 49-d-8 of this article applies to the bonds |
|
|
authorized by this section. The limitation in Section 49-d-8 of |
|
|
this article that the Texas Water Development Board may not issue |
|
|
bonds in excess of the aggregate principal amount of previously |
|
|
authorized bonds does not apply to the bonds authorized by and |
|
|
issued under this section. |
|
|
(c) A limitation on the percentage of state participation in |
|
|
any single project imposed by this article does not apply to a |
|
|
project funded with the proceeds of bonds issued under the |
|
|
authority of this section or Section 49-d-8 of this article. |
|
|
SECTION 2.02. The following temporary provision is added |
|
|
to the Texas Constitution: |
|
|
TEMPORARY PROVISION. (a) This temporary provision applies |
|
|
to the constitutional amendment proposed by the 82nd Legislature, |
|
|
Regular Session, 2011, authorizing the issuance of additional |
|
|
general obligation bonds by the Texas Water Development Board in an |
|
|
amount not to exceed $6 billion. |
|
|
(b) That constitutional amendment takes effect only if the |
|
|
constitutional amendment proposed by the 82nd Legislature, Regular |
|
|
Session, 2011, requiring the legislature to provide for the |
|
|
imposition of one or more fees to fund projects included in the |
|
|
state water plan takes effect. |
|
|
(c) This temporary provision expires January 1, 2013. |
|
|
SECTION 2.03. 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 |
|
|
issuance of additional general obligation bonds by the Texas Water |
|
|
Development Board in an amount not to exceed $6 billion." |