COMMITTEE SUBSTITUTE
FOR
HOUSE JOINT RESOLUTION NO. 22
(By Delegate Nesbitt)
(Originating in the House Committee on Constitutional
Revisions)
[March 4, 1996]
Proposing an amendment to the Constitution of the State of West
Virginia, relating to authorizing the Legislature to issue
and sell state bonds not exceeding the aggregate amount of
five hundred fifty million dollars to be used for
improvement and construction of state roads; numbering and
designating such proposed amendment; and providing a
summarized statement of the purpose of such proposed
amendment.
Resolved by the Legislature of West Virginia, two thirds of
the members elected to each House agreeing thereto:
That the question of ratification or rejection of an
amendment to the Constitution of the State of West Virginia be
submitted to the voters of the State at the next general election
to be held in the year one thousand nine hundred ninety-six,
which proposed amendment is to read as follows:
SAFE ROADS AMENDMENT OF 1996.
(a) The Legislature shall have power to authorize the
issuing and selling of state bonds not exceeding in the aggregate
five hundred fifty million dollars. The proceeds of said bondshereby authorized to be issued and sold over a five year period
in the following amounts:
(1) The first day of July, one thousand nine hundred ninety-
seven, one hundred ten million dollars;
(2) The first day of July, one thousand nine hundred ninety-
eight, one hundred ten million dollars;
(3) The first day of July, one thousand nine hundred ninety-
nine, one hundred ten million dollars;
(4) The first day of July, two thousand, one hundred ten
million dollars;
(5) The first day of July, two thousand one, one hundred ten
million dollars.
Any bonds not issued under the provisions of subdivisions
(1) through (4) of this subsection may be carried forward and
issued in any subsequent year.
(b) The proceeds of the bonds shall be used and appropriated
for the following purposes:
(1) Matching available federal funds for highway
construction in this state; and
(2) General highway construction or improvements in each of
the fifty-five counties.
(c) When a bond issue as aforesaid is authorized, the
Legislature shall at the same time provide for the collection of
an annual state tax sufficient to pay as it may accrue the
interest on such bonds and the principal thereof within and not
exceeding twenty-five years. Such tax shall be levied in any
year only to the extent that the moneys in the state road fund
irrevocably set aside and appropriated for and applied to thepayment of the interest on and the principal of said bonds
becoming due and payable in such year are insufficient therefor.
Any interest that accrues on the issued bonds prior to payment
shall only be used for the purposes of the bonds.
Resolved further, That in accordance with the provisions of
article eleven, chapter three of the code of West Virginia, one
thousand nine hundred thirty-one, as amended, such proposed
amendment is hereby numbered "Amendment No. 3" and designated as
the "Safe Roads Amendment of 1996" and the purpose of the
proposed amendment is summarized as follows: "To provide for the
improvement and construction of safe roads in the state."