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A BILL TO BE ENTITLED
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AN ACT
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relating to the powers of the Hidalgo County Drainage District |
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Number 1; authorizing the issuance of bonds. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. In this Act, "district" means the Hidalgo County |
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Drainage District Number 1. |
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SECTION 2. (a) District revenue bonds may be secured as |
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described by a board resolution by a pledge of: |
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(1) all or part of the district's gross revenue, other |
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than taxation, minus the amount necessary to pay the cost of |
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maintaining and operating the district and its property; |
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(2) the net revenue of a contract made at any time; or |
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(3) other revenue specified by board resolution. |
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(b) The pledge may reserve the right to issue additional |
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bonds on a parity with or subordinate to the bonds being issued, |
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subject to conditions specified by the pledge. |
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(c) District revenue bonds not payable wholly or partly from |
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ad valorem taxes may be issued without an election. |
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SECTION 3. (a) The district may sell reclaimed water to |
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consumers. |
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(b) The district may enter into public-private partnership |
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agreements to fund infrastructure improvements needed to sell |
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reclaimed water to consumers. |
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SECTION 4. (a) The legal notice of the intention to |
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introduce this Act, setting forth the general substance of this |
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Act, has been published as provided by law, and the notice and a |
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copy of this Act have been furnished to all persons, agencies, |
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officials, or entities to which they are required to be furnished |
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under Section 59, Article XVI, Texas Constitution, and Chapter 313, |
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Government Code. |
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(b) The governor, one of the required recipients, has |
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submitted the notice and Act to the Texas Commission on |
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Environmental Quality. |
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(c) The Texas Commission on Environmental Quality has filed |
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its recommendations relating to this Act with the governor, the |
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lieutenant governor, and the speaker of the house of |
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representatives within the required time. |
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(d) All requirements of the constitution and laws of this |
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state and the rules and procedures of the legislature with respect |
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to the notice, introduction, and passage of this Act are fulfilled |
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and accomplished. |
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SECTION 5. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2021. |