Bill Text: TX SB1377 | 2011-2012 | 82nd Legislature | Introduced

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Bill Title: Relating to the amount of certain general obligation bonds authorized to be issued to provide financial assistance for colonia access roadway projects to serve border colonias.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2011-03-22 - Referred to Finance [SB1377 Detail]

Download: Texas-2011-SB1377-Introduced.html

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82R4775 JJT-D
By: Lucio S.B. No. 1377

A BILL TO BE ENTITLED
AN ACT
relating to the amount of certain general obligation bonds
authorized to be issued to provide financial assistance for colonia
access roadway projects to serve border colonias.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1403.002(a), Government Code, is amended
to read as follows:
(a) As provided by Sections 49-l(a) and (a-1) [Section
49-1], Article III, Texas Constitution, the authority shall, in
accordance with requests from the office of the governor:
(1) issue general obligation bonds and notes in an
aggregate amount not to exceed $235 [$175] million, as authorized
by the office of the governor under Subsection (b); and
(2) as directed by the Texas Department of
Transportation, distribute the proceeds from the sale of the bonds
and notes to counties to provide financial assistance for colonia
access roadway projects to serve border colonias.
SECTION 2. This Act takes effect on the date on which the
constitutional amendment proposed by the 82nd Legislature, Regular
Session, 2011, authorizing the issuance of up to $60 million in
general obligation bonds or notes to provide financial assistance
to counties for roadway projects to serve colonias is approved by
the voters. If that amendment is not approved by the voters, this
Act has no effect.