1-1 By: Vowell (Senate Sponsor - Bivins) H.B. No. 2558 1-2 (In the Senate - Received from the House April 26, 1993; 1-3 April 27, 1993, read first time and referred to Committee on 1-4 Intergovernmental Relations; May 12, 1993, reported adversely, with 1-5 favorable Committee Substitute by the following vote: Yeas 8, Nays 1-6 0; May 12, 1993, sent to printer.) 1-7 COMMITTEE VOTE 1-8 Yea Nay PNV Absent 1-9 Armbrister x 1-10 Leedom x 1-11 Carriker x 1-12 Henderson x 1-13 Madla x 1-14 Moncrief x 1-15 Patterson x 1-16 Rosson x 1-17 Shapiro x 1-18 Wentworth x 1-19 Whitmire x 1-20 COMMITTEE SUBSTITUTE FOR H.B. No. 2558 By: Carriker 1-21 A BILL TO BE ENTITLED 1-22 AN ACT 1-23 relating to the validation of certain acts and proceedings of 1-24 certain corporations created under the Health Facilities 1-25 Development Act and to the authority of corporations created under 1-26 that act to refund outstanding bonds. 1-27 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-28 SECTION 1. VALIDATION. (a) In this section, "corporation" 1-29 means a hospital development corporation that was created or 1-30 attempted to be created pursuant to the Health Facilities 1-31 Development Act (Chapter 221, Health & Safety Code, formerly 1-32 compiled as Article 1528j, Vernon's Texas Civil Statutes). 1-33 (b) This section applies to all acts, resolutions, orders, 1-34 instruments, obligations and proceedings whatsoever taken, adopted, 1-35 authorized, issued, entered into or delivered by any corporation 1-36 before January 1, 1993. 1-37 (c) All such acts, resolutions, orders, instruments, 1-38 obligations and proceedings of a corporation before January 1, 1-39 1993, are in all respects validated, ratified, approved and 1-40 confirmed as of the date they were taken, adopted, authorized, 1-41 issued, entered into or delivered and shall be treated as though 1-42 they had originally been duly authorized and accomplished in 1-43 accordance with law. Any such acts, resolutions, orders, 1-44 instruments, obligations or proceedings, shall not be held invalid 1-45 because they were not taken, adopted, authorized, issued, entered 1-46 into or delivered in accordance with law. All governmental acts 1-47 and proceedings of cities, counties and hospital districts in 1-48 connection with the authorization and approval of any acts, 1-49 resolutions, orders, instruments, obligations and proceedings or a 1-50 corporation are validated, ratified, approved and confirmed as of 1-51 their original date. 1-52 (d) This section does not apply to any matter that on the 1-53 effective date of this section: 1-54 (1) is involved in litigation if the litigation 1-55 ultimately results in the matter being held invalid by a final 1-56 judgment of a court of competent jurisdiction, or 1-57 (2) has been held invalid by a court of competent 1-58 jurisdiction. 1-59 SECTION 2. REFUNDING OF BONDS. Section 221.065(a), Health & 1-60 Safety Code, is amended to read as follows: 1-61 (a) A development corporation may issue bonds to refund any 1-62 of its valid outstanding bonds, including any bonds issued for 1-63 unspecified projects, and including any redemption premium on the 1-64 bonds and interest accrued to the date of redemption, on a finding 1-65 by the board of directors of the development corporation that there 1-66 is a public benefit and a public purpose for the refunding. 1-67 SECTION 3. EMERGENCY. The importance of this legislation 1-68 and the crowded condition of the calendars in both houses create an 2-1 emergency and an imperative public necessity that the 2-2 constitutional rule requiring bills to be read on three several 2-3 days in each house be suspended, and this rule is hereby suspended, 2-4 and that this Act take effect and be in force from and after its 2-5 passage, and it is so enacted. 2-6 * * * * * 2-7 Austin, 2-8 Texas 2-9 May 12, 1993 2-10 Hon. Bob Bullock 2-11 President of the Senate 2-12 Sir: 2-13 We, your Committee on Intergovernmental Relations to which was 2-14 referred H.B. No. 2558, have had the same under consideration, and 2-15 I am instructed to report it back to the Senate with the 2-16 recommendation that it do not pass, but that the Committee 2-17 Substitute adopted in lieu thereof do pass and be printed. 2-18 Armbrister, 2-19 Chairman 2-20 * * * * * 2-21 WITNESSES 2-22 FOR AGAINST ON 2-23 ___________________________________________________________________ 2-24 Name: Robert Henderson x 2-25 Representing: First Southwest Co. 2-26 City: Austin 2-27 -------------------------------------------------------------------