By: Armbrister S.B. No. 481 73R4667 RJA-F A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to liquidity services provided by the treasurer for 1-3 obligations of the Texas Public Finance Authority. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Subchapter E, Chapter 404, Government Code, is 1-6 amended by adding Section 404.074 to read as follows: 1-7 Sec. 404.074. LIQUIDITY SERVICES. (a) The treasurer may 1-8 enter into a standby purchase contract or a similar agreement to 1-9 provide liquidity for, and enhance the marketability of, 1-10 obligations issued for governmental purposes by the Texas Public 1-11 Finance Authority. The authority may enter into those agreements 1-12 with the treasurer. 1-13 (b) The treasurer may not charge for providing services 1-14 under this section unless the treasurer is required to perform 1-15 services under the applicable liquidity agreement. Charges 1-16 authorized under this section may not exceed the reasonable costs 1-17 incurred by the treasurer in performing the services. 1-18 (c) In this section, "obligation" includes: 1-19 (1) commercial paper; 1-20 (2) a variable rate demand obligation; and 1-21 (3) an obligation described by Section 1(5), Chapter 1-22 656, Acts of the 68th Legislature, Regular Session, 1983 (Article 1-23 717q, Vernon's Texas Civil Statutes). 1-24 SECTION 2. The importance of this legislation and the 2-1 crowded condition of the calendars in both houses create an 2-2 emergency and an imperative public necessity that the 2-3 constitutional rule requiring bills to be read on three several 2-4 days in each house be suspended, and this rule is hereby suspended.