Texas Constitution:Article III, Section 49-d-13 and Texas Constitution:Article III, Section 49-d-14: Difference between pages

Revision as of 20:16, August 8, 2023

Added November 5, 2019:

text of Article III, Section 49-d-14 proposed by Acts 2019, 86th Leg., R.S., H.J.R. No. 4

(a) The Flood Infrastructure Fund is created as a special fund in the State Treasury outside the General Revenue Fund.

(b) As provided by general law, money in the Flood Infrastructure Fund may be administered and used, without further appropriation, by the Texas Water Development Board or that board's successor in function to provide financing for a drainage, flood mitigation, or flood control project, including: (1) planning and design activities; (2) work to obtain regulatory approval to provide nonstructural and structural flood mitigation and drainage; or (3) construction of structural flood mitigation and drainage infrastructure.

(c) Separate accounts may be established in the Flood Infrastructure Fund as necessary to administer the fund or authorized projects.

text of Article III, Section 49-d-14 proposed by Acts 2019, 86th Leg., R.S., S.J.R. No. 79

(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 the economically distressed areas program account 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 $200 million. The bonds shall be used to provide financial assistance for the development of water supply and sewer service projects in economically distressed areas of the state as defined by law.

(b) The additional general obligation bonds authorized by this section may be issued as bonds, notes, or other obligations as permitted by law and shall be sold in forms and denominations, on terms, at times, in the manner, at places, and in installments, as determined by the Texas Water Development Board. The bonds shall bear a rate or rates of interest the Texas Water Development Board determines. The bonds shall be incontestable after execution by the Texas Water Development Board, approval by the Attorney General, and delivery to the purchaser or purchasers of the bonds.

(c) Section 49-d-8(e) of this article applies to the additional general obligation 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 general obligation bonds previously authorized for the economically distressed areas program does not apply to the bonds authorized by and issued under this section.

Editor Comments

There are currently two Article III sections numbered 49-d-14.

Both were approved by voters on November 5, 2019.

Neither has been amended or repealed since that date.

—Attorney Steve Smith

Recent Decisions

None.

Historic Decisions

None.

Library Resources

Vernon's Annotated Constitution of the State of Texas (this multi-volume and up-to-date resource is available at all law libraries and many municipal libraries)

The Texas State Constitution: A Reference Guide (this one-volume resource is available at most law libraries and some municipal libraries)

The Constitution of the State of Texas: An Annotated and Comparative Analysis (this two-volume resource is available at most law libraries and some municipal libraries)

Online Resources

Constitution of the State of Texas (1876) (this resource is published and maintained by the University of Texas School of Law)

Amendments to the Texas Constitution Since 1876 (this resource is published and regularly updated by the Legislative Council)

Reports Analyzing Proposed Amendments (this resource is published and regularly updated by the Legislative Reference Library)

@@ Line 1: / Line 1: @@
-{{DISPLAYTITLE:Article III, Section 49-d-13 of the Texas Constitution (''<small>"State Water Implementation Revenue Fund for Texas"</small>'')}}{{Texas Constitution|text=Added November 5, 2013:
+{{DISPLAYTITLE:Article III, Section 49-d-14 of the Texas Constitution (''<small>"Two Sections with Same Number—Water Management"</small>'')}}{{Texas Constitution|text=Added November 5, 2019:
-'''(a) The State Water Implementation Revenue Fund for Texas is created as a special fund in the State Treasury outside the General Revenue Fund. Money in the State Water Implementation Revenue Fund for Texas shall be administered, without further appropriation, by the Texas Water Development Board or that board's successor in function and shall be used for the purpose of implementing the State Water Plan that is adopted as required by general law by the Texas Water Development Board or that board's successor in function. Separate accounts may be established in the State Water Implementation Revenue Fund for Texas as necessary to administer the fund or authorized projects.'''
+''text of Article III, Section 49-d-14 proposed by Acts 2019, 86th Leg., R.S., H.J.R. No. 4''
-'''(b) The Legislature by general law may authorize the Texas Water Development Board or that board's successor in function to issue bonds and enter into related credit agreements that are payable from all revenues available to the State Water Implementation Revenue Fund for Texas.'''
+'''(a) The Flood Infrastructure Fund is created as a special fund in the State Treasury outside the General Revenue Fund.'''
-'''(c) The Texas Water Development Board or that board's successor in function shall provide written notice to the Legislative Budget Board or that board's successor in function before issuing a bond pursuant to this section or entering into a related credit agreement that is payable from revenue deposited to the credit of the State Water Implementation Revenue Fund for Texas and shall provide a copy of the proposed bond or agreement to the Legislative Budget Board or that board's successor in function for approval. The proposed bond or agreement shall be considered to be approved unless the Legislative Budget Board or that board's successor in function issues a written disapproval not later than the 21st day after the date on which the staff of that board receives the submission.'''
+'''(b) As provided by general law, money in the Flood Infrastructure Fund may be administered and used, without further appropriation, by the Texas Water Development Board or that board's successor in function to provide financing for a drainage, flood mitigation, or flood control project, including: (1) planning and design activities; (2) work to obtain regulatory approval to provide nonstructural and structural flood mitigation and drainage; or (3) construction of structural flood mitigation and drainage infrastructure.'''
-'''(d) The State Water Implementation Revenue Fund for Texas consists of: (1) money transferred or deposited to the credit of the fund by general law, including money from any source transferred or deposited to the credit of the fund at the discretion of the Texas Water Development Board or that board's successor in function as authorized by general law; (2) the proceeds of any fee or tax imposed by this State that by statute is dedicated for deposit to the credit of the fund; (3) any other revenue that the Legislature by statute dedicates for deposit to the credit of the fund; (4) investment earnings and interest earned on amounts credited to the fund; (5) the proceeds from the sale of bonds, including revenue bonds issued under this section by the Texas Water Development Board or that board's successor in function for the purpose of providing money for the fund; and (6) money disbursed to the fund from the State Water Implementation Fund for Texas as authorized by general law.'''
+'''(c) Separate accounts may be established in the Flood Infrastructure Fund as necessary to administer the fund or authorized projects.'''
-'''(e) The Legislature by general law shall provide for the manner in which the assets of the State Water Implementation Revenue Fund for Texas may be used, subject to the limitations provided by this section. The Legislature by general law may provide for costs of investment of the State Water Implementation Revenue Fund for Texas to be paid from that fund.'''
+''text of Article III, Section 49-d-14 proposed by Acts 2019, 86th Leg., R.S., S.J.R. No. 79''
-'''(f) In each fiscal year in which amounts become due under the bonds or agreements authorized by this section, the Texas Water Development Board or that board's successor in function shall transfer from revenue deposited to the credit of the State Water Implementation Revenue Fund for Texas in that fiscal year an amount that is sufficient to pay: (1) the principal of and interest on the bonds that mature or become due during the fiscal year; and (2) any cost related to the bonds, including payments under related credit agreements that become due during that fiscal year.'''
+'''(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 the economically distressed areas program account 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 $200 million. The bonds shall be used to provide financial assistance for the development of water supply and sewer service projects in economically distressed areas of the state as defined by law.'''
-'''(g) Any obligations authorized by general law to be issued by the Texas Water Development Board or that board's successor in function pursuant to this section shall be special obligations payable solely from amounts in the State Water Implementation Revenue Fund for Texas. Obligations issued by the Texas Water Development Board or that board's successor in function pursuant to this section may not be a constitutional state debt payable from the general revenue of the state.'''
+'''(b) The additional general obligation bonds authorized by this section may be issued as bonds, notes, or other obligations as permitted by law and shall be sold in forms and denominations, on terms, at times, in the manner, at places, and in installments, as determined by the Texas Water Development Board. The bonds shall bear a rate or rates of interest the Texas Water Development Board determines. The bonds shall be incontestable after execution by the Texas Water Development Board, approval by the Attorney General, and delivery to the purchaser or purchasers of the bonds.'''
-'''(h) Any dedication or appropriation of revenue to the credit of the State Water Implementation Revenue Fund for Texas may not be modified so as to impair any outstanding bonds secured by a pledge of that revenue unless provisions have been made for a full discharge of those bonds.'''
+'''(c) Section [[Texas Constitution:Article III, Section 49-d-8#mw-content-text|49-d-8(e)]] of this article applies to the additional general obligation bonds authorized by this section. The limitation in Section [[Texas Constitution:Article III, Section 49-d-8|49-d-8]] of this article that the Texas Water Development Board may not issue bonds in excess of the aggregate principal amount of general obligation bonds previously authorized for the economically distressed areas program does not apply to the bonds authorized by and issued under this section.'''
-'''(i) Money in the State Water Implementation Revenue Fund for Texas is dedicated by this constitution for purposes of Section [[Texas Constitution:Article VIII, Section 22|22]], Article VIII, of this constitution.'''
+|editor=
-'''(j) This section being intended only to establish a basic framework and not to be a comprehensive treatment of the State Water Implementation Revenue Fund for Texas, there is hereby reposed in the Legislature full power to implement and effectuate the design and objects of this section, including the power to delegate such duties, responsibilities, functions, and authority to the Texas Water Development Board or that board's successor in function as the Legislature believes necessary.'''
+There are currently two Article III sections numbered 49-d-14.
-|editor=
+Both were approved by voters on November 5, 2019.
-None.
+Neither has been amended or repealed since that date.
 |recent=
@@ Line 33: / Line 33: @@
 None.
-|seo_title=Article III, Section 49-d-13 of the Texas Constitution ("State Water Implementation Revenue Fund for Texas")
+|seo_title=Article III, Section 49-d-14 of the Texas Constitution ("Two Sections with Same Number—Water Management")
-|seo_keywords=Article 3 Section 49-d-13, water bonds, debt authorization
+|seo_keywords=Article 3 Section 49-d-14, water bonds, debt authorization
-|seo_description=The State Water Implementation Revenue Fund for Texas is created as a special fund in the State Treasury.
+|seo_description=There are currently two Article III sections numbered 49-d-14.
 |seo_image=Texas_Constitution_of_1876_Article_3.jpg
 |seo_image_alt=Article III: Legislative Department