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House Bill 3270 |
House Author: Eiland et al. |
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Effective: 6-15-07 |
Senate Sponsor: Williams |
House Bill 3270 amends the Government Code to allow a county, municipality, or eligible school district or countywide district located within 70 miles of the Gulf of Mexico or of a bay or inlet of the gulf to authorize the issuance of an anticipation note or other obligation in the event of an emergency declared by the governor or the governing body acting through its presiding officer. After the issuance, the governing body must provide the attorney general with certain documentation, and if the emergency affects the issuer, the attorney general must expeditiously review and approve delivery of the obligation after the issuer complies with certain requirements. The issuer may provide that the obligation be paid, secured, or pledged to be paid from any revenue, and an issuer other than an eligible school district may use the proceeds of the obligation to pay certain contractual or operating expenses or for other purposes necessary to protect the public health and safety. The bill provides that the note or other obligation is exempt from certain amount limitations and competitive bidding requirements and must mature before the 10th anniversary of the date of the attorney general's approval. If a conflict exists between these provisions and a municipal charter, these provisions control.