Other notable resolutions voted out this morning include SJR 4 relating to the bonding authority of the Texas Water Development Board (TWDB) and SJR 5 relating to a consolidation of certain assets of the school fund which would increase the amounts of distribution from the available school fund.
SJR 4 (Hinojosa) Key points of discussion:
- Allows voters to decide on $6 billion self-sustaining continuing bond authority to satisfy the demand for water infrastructure projects
- These are self-sustaining bonds, appropriate no GR because entities receiving the loans pay back the bonds, including interest or any debt service
- Evergreen clause gives TWDB flexibility to deal with demand for financing of various projects
SJR 4 was reported to the full Senate.
SJR 5 (Ogden) Committee Substitute key points of discussion:
- The resolution consolidates certain assets of the school fund -discretionary real assets investments and cash in the state treasury derived from property belonging to the fund – which would allow for an increase in the amount distributed from the Available School Fund (ASF).
- The ballot language states – “The constitutional amendment providing for increase in the market value in the permanent school fund for the purpose of allowing increased distributions from the available school fund.”
SJR 5 was report to the full Senate.