By:  Vowell                                           H.B. No. 2558
       73R6772 CBH-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the financing of property and improvements by a
    1-3  community center.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 534.022(a), Health and Safety Code, is
    1-6  amended to read as follows:
    1-7        (a)  To acquire or to refinance the acquisition of real and
    1-8  personal property or to construct improvements to property, a
    1-9  community center may contract in accordance with Subchapter A,
   1-10  Chapter 271, Local Government Code, or issue, execute, refinance,
   1-11  or refund  bonds, <or> notes, or contracts.  The community center
   1-12  may secure the payment of the bonds, notes, or contracts with a
   1-13  security interest in or pledge of its revenues, receivables,
   1-14  contract rights, or accounts, or by granting a mortgage on any of
   1-15  its properties.
   1-16        SECTION 2.  The importance of this legislation and the
   1-17  crowded condition of the calendars in both houses create an
   1-18  emergency and an imperative public necessity that the
   1-19  constitutional rule requiring bills to be read on three several
   1-20  days in each house be suspended, and this rule is hereby suspended,
   1-21  and that this Act take effect and be in force from and after its
   1-22  passage, and it is so enacted.