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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to increase the maximum bond amount authorized for the Cancer |
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Prevention and Research Institute of Texas. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 67(c), Article III, Texas Constitution, |
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is amended to read as follows: |
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(c) The legislature by general law may authorize the Texas |
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Public Finance Authority to provide for, issue, and sell general |
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obligation bonds of the State of Texas on behalf of the Cancer |
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Prevention and Research Institute of Texas in an amount not to |
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exceed $6 [$3] billion and to enter into related credit agreements. |
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The Texas Public Finance Authority may not issue more than $300 |
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million in bonds authorized by this subsection in a year. The bonds |
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shall be executed in the form, on the terms, and in the |
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denominations, bear interest, and be issued in installments as |
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prescribed by the Texas Public Finance Authority. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 5, 2019. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment authorizing the |
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legislature to increase by $3 billion the maximum bond amount |
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authorized for the Cancer Prevention and Research Institute of |
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Texas." |