By Marchant H.B. No. 2589
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the amendment of the Texas Public Finance Authority
1-3 Act, Article 601d and Article 601d-1, Vernon's Texas Civil
1-4 Statutes, to provide for certain interim construction and equipment
1-5 financing procedures.
1-6 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-7 SECTION 1. Section 9A (d), Texas Public Finance Authority
1-8 Act (Article 601d, Vernon's Texas Civil Statutes), is amended to
1-9 read as follows:
1-10 (d) State agencies are authorized to enter into the types of
1-11 contracts and agreements delineated in this section for the purpose
1-12 of purchasing or leasing necessary equipment. If a law requires a
1-13 state agency to obtain the approval of another state agency or
1-14 perform any other act before a state agency may purchase or lease
1-15 computer equipment, then those requirements must be satisfied
1-16 before an agency may enter into a contract or agreement under this
1-17 act. The authority shall promulgate rules so that no equipment may
1-18 be financed <obligations are not issued and sold> before the
1-19 authority receives written proof that the requirements have been
1-20 satisfied.
1-21 SECTION 2. Section 23(b), Texas Public Finance Authority Act
1-22 (Article 601d, Vernon's Texas Civil Statutes), is amended to read
1-23 as follows:
2-1 (b) The process of acquiring or constructing a building or
2-2 purchasing or leasing equipment may begin after:
2-3 (1) the authority has certified that obligations in an
2-4 amount sufficient to pay the construction or purchase price of such
2-5 project have been authorized for issuance by the authority under an
2-6 interim construction finance facility established by the authority
2-7 in accordance with Article 717q, Vernon's Texas Civil Statutes, or
2-8 (2) (<1>A) the proceeds have been deposited into the
2-9 state treasury;
2-10 (<2>B) the comptroller of public accounts has
2-11 certified that the proceeds are available;
2-12 (<3>C) the reserve funds and capitalized interest, as
2-13 certified by the authority as reasonably required, have been paid;
2-14 and
2-15 (<4>D) the costs of issuing the bonds or obligations
2-16 have been paid after receiving a certificate from the authority
2-17 specifying those costs.
2-18 SECTION 3. Section 5(c) of Article 601d-1, Vernon's Texas
2-19 Civil Statutes, is amended to read as follows:
2-20 (c) The appropriate agency may begin approved projects after
2-21 (1) the authority has certified that obligations in an amount
2-22 sufficient to pay the construction or purchase price of such
2-23 project have been authorized for issuance by the authority under an
2-24 interim construction finance facility established by the authority
2-25 in accordance with Article 717q, Vernon's Texas Civil Statutes, or
3-1 (2) once the funds are deposited and the comptroller of public
3-2 accounts has certified that the funds are available and after
3-3 transfer of any reserve funds or capitalized interest certified to
3-4 be reasonably required by the authority and payment of costs of
3-5 issuance of the bonds based on a statement by the authority that
3-6 specifies those costs. <, the appropriate agency may begin approved
3-7 projects.>
3-8 SECTION 4. The importance of this legislation and the
3-9 crowded condition of the calendars in both houses create an
3-10 emergency and an imperative public necessity that the
3-11 constitutional rule requiring bills to be read on three several
3-12 days in each house be suspended, and this rule is hereby suspended,
3-13 and that this act take effect and be enforced from and after its
3-14 passage and it is so enacted.