HOUSE JOINT RESOLUTION NO. 104

              (By Delegates Staggers, Longstreth,

              L. Phillips, Barker, Moye, Young and Lynch)

              [Introduced January 31, 2014; referred to the

              Committee on the Judiciary then Finance.]

Proposing an amendment to the Constitution of the State of West Virginia, amending article VI thereof by adding thereto a new section, designated section fifty-seven, relating to authorizing the Legislature to issue and sell state road bonds not exceeding the aggregate amount of $1 billion; 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 2014, which proposed amendment is that article VI thereof be amended by adding thereto a new section, designated fifty-seven, to read as follows:

ARTICLE VI. THE LEGISLATURE.

§57. Safe Roads Amendment of 2014.

    (a) The Legislature shall have power to authorize the issuing and selling of state road bonds not exceeding in the aggregate $1 billion. The proceeds of these bonds are authorized to be issued and sold over a five year period in the following manner:

    (1) On July 1, 2015, $200 million.

    (2) On July 1, 2016, $200 million.

    (3) On July 1, 2017, $200 million.

    (4) On July 1, 2018, $200 million.

    (5) On July 1, 2019, $200 million.

    Any bonds not issued under the provisions of subdivisions (1) through (5) 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 permitted by this article is authorized, the Legislature shall at the same time provide for the collection of an annual state tax sufficient to pay the principal and interest of those bonds as it may accrue within and not exceeding twenty-five years. That 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 the payment of the principal and interest of those bonds becoming due and payable in such year are insufficient. Any interest that accrues on the issued bonds prior to payment may 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, 1931, as amended, such proposed amendment is hereby numbered "Amendment No. 1" and designated as the "Safe Highways Amendment of 2014" and the purpose of the proposed amendment is summarized as follows: "To provide for the continued funding of improvement and construction of state roads and highways."

    NOTE: The purpose of this resolution is to amend the state Constitution to provide for the continued funding of improvement and construction of state roads and highways. The resolution permits the Legislature to issue $1 billion state road bonds over a five year period.

    This amendment is new; therefore, it has been completely underscored.