Sec. 49-d-9. ISSUANCE OF ADDITIONAL GENERAL OBLIGATION BONDS. (a)
The Texas Water Development Board may issue additional general obligation
bonds, at its determination, for one or more accounts of the Texas Water
Development Fund II, in an amount not to exceed $2 billion. Of the additional
general obligation bonds authorized to be issued, $50 million of those bonds
shall be used for the water infrastructure fund as provided by law.
(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 Section 49-d-8 of this article or this
section.
(Added Nov. 6, 2001.)
Sec. 49-d-10. BONDS TO FUND ADDITIONAL FINANCIAL ASSISTANCE TO
ECONOMICALLY DISTRESSED AREAS. (a) The Texas Water Development Board
may issue additional general obligation bonds, at its determination, for the
economically distressed areas program account of the Texas Water
Development Fund II, in an amount not to exceed $250 million. The bonds
shall be used to provide financial assistance to economically distressed areas
of the state as defined by law.
(b) Section 49-d-8(e) of this article applies to the bonds authorized by this
section.
(Added Nov. 6, 2007.)
Sec. 49-e. TEXAS PARK DEVELOPMENT FUND. (a) The Parks and Wildlife
Department, or its successor vested with the powers, duties, and authority
which deals with the operation, maintenance, and improvement of State Parks,
shall have the authority to provide for, issue and sell general obligation bonds
of the State of Texas in an amount authorized by constitutional amendment
or by a debt proposition under Section 49 of this article. The bonds shall be
called "Texas Park Development Bonds," shall be executed in such form,
denominations, and upon such terms as may be prescribed by law, shall bear
a rate or rates of interest as may be fixed by the Parks and Wildlife
Department or its successor, not to exceed the maximum prescribed by
Section 65 of this article, and may be issued in such installments as said
Parks and Wildlife Department, or its said successor, finds feasible and
practical in accomplishing the purpose set forth herein.
(b) All moneys received from the sale of said bonds shall be deposited in a
fund hereby created with the Comptroller of Public Accounts of the State of
Texas to be known as the Texas Park Development Fund to be administered
(without further appropriation) by the said Parks and Wildlife Department, or
its said successor, in such manner as prescribed by law.
(c) Such fund shall be used by said Parks and Wildlife Department, or its said
successor, under such provisions as the Legislature may prescribe by general
law, for the purposes of acquiring lands from the United States, or any
governmental agency thereof, from any governmental agency of the State of
Texas, or from any person, firm, or corporation, for State Park Sites and for
developing said sites as State Parks.
(d) While any of the bonds, or any interest on any such bonds, is outstanding
and unpaid, there is hereby appropriated out of the first moneys coming into
the Treasury in each fiscal year, not otherwise appropriated by this
Constitution, an amount which is sufficient to pay the principal and interest on
such bonds that mature or become due during such fiscal year, less the
amount in the interest and sinking fund at the close of the prior fiscal year,
which includes any receipts derived during the prior fiscal year by said Parks
and Wildlife Department, or its said successor, from admission charges to
State Parks, as the Legislature may prescribe by general law.
(e) The Legislature may provide for the investment of moneys available in
the Texas Park Development Fund and the interest and sinking fund
established for the payment of bonds issued by said Parks and Wildlife
Department, or its said successor. Income from such investment shall be used
for the purposes prescribed by the Legislature.
(f) From the moneys received by said Parks and Wildlife Department, or its
said successor, from the sale of the bonds issued hereunder, there shall be
deposited in the interest and sinking fund for the bonds authorized by this
section sufficient moneys to pay the interest to become due during the State
fiscal year in which the bonds were issued. After all bonds have been fully paid
with interest, or after there are on deposit in the interest and sinking fund
sufficient moneys to pay all future maturities of principal and interest,
additional moneys received from admission charges to State Parks shall be
deposited to the State Parks Fund, or any successor fund which may be
established by the Legislature as a depository for Park revenue earned by
said Parks and Wildlife Department, or its said successor.
(g) All bonds issued hereunder shall after approval by the Attorney General,
registration by the Comptroller of Public Accounts of the State of Texas, and
delivery to the purchasers, be incontestable and shall constitute general
obligations of the State of Texas under the Constitution of Texas.
(Added Nov. 11, 1967; amended Nov. 7, 1995, and Nov. 2, 1999.)
(TEMPORARY TRANSITION PROVISIONS for Sec. 49-e: See Appendix, Note 1.)
The Texas Water Development Board may issue additional general obligation
bonds, at its determination, for one or more accounts of the Texas Water
Development Fund II, in an amount not to exceed $2 billion. Of the additional
general obligation bonds authorized to be issued, $50 million of those bonds
shall be used for the water infrastructure fund as provided by law.
(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 Section 49-d-8 of this article or this
section.
(Added Nov. 6, 2001.)
Sec. 49-d-10. BONDS TO FUND ADDITIONAL FINANCIAL ASSISTANCE TO
ECONOMICALLY DISTRESSED AREAS. (a) The Texas Water Development Board
may issue additional general obligation bonds, at its determination, for the
economically distressed areas program account of the Texas Water
Development Fund II, in an amount not to exceed $250 million. The bonds
shall be used to provide financial assistance to economically distressed areas
of the state as defined by law.
(b) Section 49-d-8(e) of this article applies to the bonds authorized by this
section.
(Added Nov. 6, 2007.)
Sec. 49-e. TEXAS PARK DEVELOPMENT FUND. (a) The Parks and Wildlife
Department, or its successor vested with the powers, duties, and authority
which deals with the operation, maintenance, and improvement of State Parks,
shall have the authority to provide for, issue and sell general obligation bonds
of the State of Texas in an amount authorized by constitutional amendment
or by a debt proposition under Section 49 of this article. The bonds shall be
called "Texas Park Development Bonds," shall be executed in such form,
denominations, and upon such terms as may be prescribed by law, shall bear
a rate or rates of interest as may be fixed by the Parks and Wildlife
Department or its successor, not to exceed the maximum prescribed by
Section 65 of this article, and may be issued in such installments as said
Parks and Wildlife Department, or its said successor, finds feasible and
practical in accomplishing the purpose set forth herein.
(b) All moneys received from the sale of said bonds shall be deposited in a
fund hereby created with the Comptroller of Public Accounts of the State of
Texas to be known as the Texas Park Development Fund to be administered
(without further appropriation) by the said Parks and Wildlife Department, or
its said successor, in such manner as prescribed by law.
(c) Such fund shall be used by said Parks and Wildlife Department, or its said
successor, under such provisions as the Legislature may prescribe by general
law, for the purposes of acquiring lands from the United States, or any
governmental agency thereof, from any governmental agency of the State of
Texas, or from any person, firm, or corporation, for State Park Sites and for
developing said sites as State Parks.
(d) While any of the bonds, or any interest on any such bonds, is outstanding
and unpaid, there is hereby appropriated out of the first moneys coming into
the Treasury in each fiscal year, not otherwise appropriated by this
Constitution, an amount which is sufficient to pay the principal and interest on
such bonds that mature or become due during such fiscal year, less the
amount in the interest and sinking fund at the close of the prior fiscal year,
which includes any receipts derived during the prior fiscal year by said Parks
and Wildlife Department, or its said successor, from admission charges to
State Parks, as the Legislature may prescribe by general law.
(e) The Legislature may provide for the investment of moneys available in
the Texas Park Development Fund and the interest and sinking fund
established for the payment of bonds issued by said Parks and Wildlife
Department, or its said successor. Income from such investment shall be used
for the purposes prescribed by the Legislature.
(f) From the moneys received by said Parks and Wildlife Department, or its
said successor, from the sale of the bonds issued hereunder, there shall be
deposited in the interest and sinking fund for the bonds authorized by this
section sufficient moneys to pay the interest to become due during the State
fiscal year in which the bonds were issued. After all bonds have been fully paid
with interest, or after there are on deposit in the interest and sinking fund
sufficient moneys to pay all future maturities of principal and interest,
additional moneys received from admission charges to State Parks shall be
deposited to the State Parks Fund, or any successor fund which may be
established by the Legislature as a depository for Park revenue earned by
said Parks and Wildlife Department, or its said successor.
(g) All bonds issued hereunder shall after approval by the Attorney General,
registration by the Comptroller of Public Accounts of the State of Texas, and
delivery to the purchasers, be incontestable and shall constitute general
obligations of the State of Texas under the Constitution of Texas.
(Added Nov. 11, 1967; amended Nov. 7, 1995, and Nov. 2, 1999.)
(TEMPORARY TRANSITION PROVISIONS for Sec. 49-e: See Appendix, Note 1.)
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