Authorizing the Legislature to Allow Cities or Counties to Enter into Interlocal Contracts with Other Cities or Counties Without the Imposition of a Tax or the Provision of a Sinking Fund
Texas Ballot Measure - Proposition 5
Election: Nov. 8, 2011 (General)
Outcome: Passed
Categories:
Economy and FiscalHousing and Property
Constitution
Taxes
Summary
HJR 63 would amend the constitution to authorize the legislature to permit a county to issue bonds or notes to finance the development or redevelopment of an unproductive, underdeveloped, or blighted area within the county, and to pledge increases in ad valorem tax revenues imposed on property in the area by the county for repayment of such bonds or notes. The amendment does not provide independent authority for increasing ad valorem tax rates.
Measure Text
The constitutional amendment authorizing the legislature to permit a county to issue bonds or notes to finance the development or redevelopment of an unproductive, underdeveloped, or blighted area and to pledge for repayment of the bonds or notes increases in ad valorem taxes imposed by the county on property in the area. The amendment does not provide authority for increasing ad valorem tax rates.
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