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
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