Enrolled Bill Summary

            House Bill 3285 amends the Government Code to authorize certain countywide flood control districts and hospital districts to issue anticipation notes and to place limits on the amounts of such notes. The bill authorizes a flood control district operating as a conservation and reclamation district that issues anticipation notes for certain purposes to secure the notes with revenue or bond proceeds. The bill also establishes a maturity period of 15 years for anticipation notes issued by certain counties, countywide districts, and school districts; refunding bonds associated with anticipation notes issued by certain counties, municipalities, or countywide districts are subject to the same 40-year limitations on maturity as other refunding bonds.

            House Bill 3285 also amends the Local Government Code to authorize a county that contracts for flood control and soil conservation plans and programs to include in the contract a provision that payments under the contract are payable from and secured by a pledge of county revenue or ad valorem taxes or a combination of revenue and taxes.