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.