Enrolled Bill Summary

            House Bill 3224 amends a nonsubstantive revision of laws relating to the issuance of public securities by or on behalf of the state and political subdivisions as adopted by House Bill 3157. The act consolidates various provisions relating to the issuance of bonds and other obligations for certain utilities and makes conforming changes to a variety of statutes. The act authorizes the governing body of an issuer of refunding bonds to delegate to an officer or employee certain authority relating to the characteristics and sale of those bonds and specifies the types of noncallable obligations in which certain escrow deposits may be invested. The act requires the attorney general to deliver to the comptroller a copy of the attorney general's legal opinion concerning the approval of certain obligations, credit agreements, and contracts, and requires the comptroller to register the record of the proceedings relating to issuance of the obligations or execution of the credit agreements. The act authorizes river authorities to engage in the distribution and sale of electric energy to the public through a nonprofit corporation created by the authority; provides that the authority and the corporations may share personnel and facilities and provide goods and services to each other at cost and without competitive bidding; and authorizes the transfer of the authority's assets to the corporation. Finally, the act authorizes a river authority to provide electric transmission services on a regional basis and to acquire, lease, construct, operate, or sell electric transmission facilities at any location within or outside the authority's boundaries.