S.B. No. 63
  7-1                          COMMITTEE AMENDMENT NO. 1
  7-2           Amend S.B. 63 as follows:
  7-3           (1)  On page 2, delete lines 16-20 and substitute the
  7-4     following:
  7-5           "Sec. 3.  PURPOSES FOR WHICH ANTICIPATION NOTES MAY BE
  7-6     AUTHORIZED.  The commissioners court of a county, on recommendation
  7-7     of the county auditor or budget officer if applicable, or the
  7-8     governing body of a municipality, may authorize anticipation notes
  7-9     to:"
 7-10           (2)  On page 2, delete line 25 and on page 3, delete line 1
 7-11     and substitute the following:
 7-12           "machinery, buildings, lands, and rights-of-way for an
 7-13     issuer's authorized needs and purposes;"
 7-14           (3)  On page 3, line 11, delete the language "home-rule".
 7-15           (4)  On page 3, line 12, delete the language "90,000" and
 7-16     substitute the language "80,000".
 7-17           (5)  On page 4, delete lines 21-24 and substitute the
 7-18     following:
 7-19           "(c)  A governing body may not issue anticipation notes that
 7-20     are to be payable from bonds secured by ad valorem taxes unless the
 7-21     proposition authorizing the issuance of the bonds has been approved
 7-22     by a majority of the voters in an election held by the issuer and
 7-23     the proposition states that anticipation notes may be issued."
 7-24           (6)  On page 5, line 2, delete the language "12" and
 7-25     substitute the language "24".
 7-26           (7)  On page 5, line 12, after the word "issued" and before
 7-27     the word "under", add the following:
  8-1           "by a municipality"
  8-2           (8)  On page 5, line 15, add the following after the period:
  8-3           "Anticipation notes issued by a county under Subdivision (4)
  8-4     of Section 3 of this article may not exceed 50 percent of the
  8-5     revenues or taxes anticipated to be collected in the fiscal year in
  8-6     which the attorney general approves the notes."
  8-7           (9)  On page 6, line 15, add the following after the language
  8-8     "September 1, 1993.":
  8-9           "Section 6(c) of this article shall not apply to anticipation
 8-10     notes that are to be payable from bonds secured by ad valorem taxes
 8-11     for projects which have been approved by a majority of the voters
 8-12     of the issuer voting at an election held prior to September 1,
 8-13     1993."
 8-14                                                                Marchant