Texas Constitution, April 2008 Page: 31
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" Art. 3 Sec. 49-d-6
authorized by this article and administered by the Texas Water Development
Board, the legislature by law may extend any benefits to nonprofit water supply
corporations that it may extend to a district created or organized under Article
XVI, Section 59, of this constitution. (Added Nov. 5, 1985; amended Nov. 2,
" 1999.) (TEMPORARY TRANSITION PROVISIONS for Sec. 49-d-5: See
Appendix, Note 1.)
Sec. 49-d-6. ADDITIONAL TEXAS WATER DEVELOPMENT BONDS;
* USE OF BONDS; REVIEW AND APPROVAL. The legislature may require
review and approval of the issuance of Texas Water Development Bonds, of the
U use of the bond proceeds, or of the rules adopted by an agency to govern use of
the bond proceeds. Notwithstanding any other provision of this constitution,
any entity created or directed to conduct this review and approval may include
members or appointees of members of the executive, legislative, and judicial
departments of state government. (Added Nov. 3, 1987; Subsecs. (a), (c), and (d)
deleted and Subsec. (b) amended Nov. 2, 1999.) (TEMPORARY TRANSITION
" PROVISIONS for Sec. 49-d-6: See Appendix, Note 1.)
Sec. 49-d-7. ADDITIONAL TEXAS WATER DEVELOPMENT
BONDS; USE OF BONDS AND PROCEEDS; REVIEW AND APPROVAL.
3 (a) The Texas Water Development Board may use the proceeds of Texas water
development bonds issued for the purposes provided by Section 49-c of this
article for the additional purpose of providing financial assistance, on terms and
* conditions provided by law, to various political subdivisions and bodies politic
and corporate of the state and to nonprofit water supply corporations to provide
for acquisition, improvement, extension, or construction of water supply projects
that involve the distribution of water to points of delivery to wholesale or retail
customers.
U (b) The legislature may provide by law for subsidized loans and grants from
the proceeds of Texas water development bonds to provide wholesale and retail
water and wastewater facilities to economically distressed areas of the state
3 as defined by law, provided, the principal amount of bonds that may be issued
for the purposes under this subsection may not exceed $250 million. Separate
accounts shall be established in the water development fund for administering
the proceeds of bonds issued for purposes under this subsection, and an interest
and sinking fund separate from and not subject to the limitations of the interest
and sinking fund created for other Texas water development bonds is established
in the State Treasury to be used for paying the principal of and interest on bonds
for the purposes of this subsection. While any of the bonds authorized for the
3 purposes of this subsection or any of the interest on those bonds is outstanding
and unpaid, there is appropriated out of the first money coming into the State
0 Treasury in each fiscal year, not otherwise appropriated by this constitution, an
amount that is sufficient to pay the principal of and interest on those bonds.issued
for the purposes under this subsection that mature or become due during that
3 fiscal year. (Added Nov. 7, 1989; Subsec. (e) amended Nov. 5, 1991; Subsec.
(a) deleted, Subsec. (b) redesignated Subsec. (a), Subsecs. (c) and (d) deleted,
U Subsec. (e) amended and redesignated Subsec. (b), and Subsec. (f) deleted
* Nov. 2, 1999.) (TEMPORARY TRANSITION PROVISIONS for Sec. 49-d-7:
See Appendix, Note 1.)
U
3 31
U
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Texas. Legislature. Legislative Council. Research Division. Texas Constitution, April 2008, book, April 2008; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth654146/m1/37/?q=%222008~%22: accessed August 15, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.