TITLE: Proposing a constitutional amendment discontinuing the authority to issue bonded indebtedness on behalf of the Cancer Prevention and Research Institute of Texas.

SUMMARY: Proposing a constitutional amendment discontinuing the authority to issue bonded indebtedness on behalf of the Cancer Prevention and Research Institute of Texas.

FULL TEXT:
83(R) SJR 19-Introduced version-Bill Text 83R2700 CJC-D By: Eltife S.J.R. No. 19 A JOINT RESOLUTION proposing a constitutional amendment discontinuing the authority to issue bonded indebtedness on behalf of the Cancer Prevention and Research Institute of Texas. BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 67(c), Article III, Texas Constitution, is amended to read as follows: (c) The legislature by general law may authorize the Texas Public Finance Authority to provide for, issue, and sell general obligation bonds of the State of Texas on behalf of the Cancer Prevention and Research Institute of Texas in an amount not to exceed $3 billion and to enter into related credit agreements. The Texas Public Finance Authority may not issue more than $300 million in bonds authorized by this subsection in a year. The bonds shall be executed in the form, on the terms, and in the denominations, bear interest, and be issued in installments as prescribed by the Texas Public Finance Authority. The Texas Public Finance Authority may not provide for, issue, or sell general obligation bonds, except for refunding bonds, under this subsection after January 1, 2014. SECTION 2. This proposed constitutional amendment shall be submitted to the voters at an election to be held November 5, 2013. The ballot shall be printed to permit voting for or against the proposition: "The constitutional amendment discontinuing the authority to issue bonded indebtedness on behalf of the Cancer Prevention and Research Institute of Texas."