S.B. No. 977
AN ACT
1-1 relating to financing by the Texas Public Finance Authority of
1-2 certain facilities and equipment for state agencies.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Subsection (d), Section 9A, Texas Public Finance
1-5 Authority Act (Article 601d, Vernon's Texas Civil Statutes), is
1-6 amended to read as follows:
1-7 (d) State agencies are authorized to enter into the types of
1-8 contracts and agreements delineated in this section for the purpose
1-9 of purchasing or leasing necessary equipment. If a law requires a
1-10 state agency to obtain the approval of another state agency or
1-11 perform any other act before a state agency may purchase or lease
1-12 computer equipment, then those requirements must be satisfied
1-13 before an agency may enter into a contract or agreement under this
1-14 Act. The authority shall promulgate rules so that the equipment
1-15 may not be financed <obligations are not issued and sold> before
1-16 the authority receives written proof that the requirements have
1-17 been satisfied.
1-18 SECTION 2. Subsection (b), Section 23, Texas Public Finance
1-19 Authority Act (Article 601d, Vernon's Texas Civil Statutes), is
1-20 amended to read as follows:
1-21 (b) The process of acquiring or constructing a building or
1-22 purchasing or leasing equipment may begin after:
1-23 (1) the authority has certified that obligations in an
2-1 amount sufficient to pay the construction or purchase price of the
2-2 project have been authorized for issuance by the authority under an
2-3 interim construction finance agreement established by the authority
2-4 in accordance with Chapter 656, Acts of the 68th Legislature,
2-5 Regular Session, 1983 (Article 717q, Vernon's Texas Civil
2-6 Statutes), and its subsequent amendments; or
2-7 (2) the proceeds have been deposited into the state
2-8 treasury,<;>
2-9 <(2)> the comptroller of public accounts has certified
2-10 that the proceeds are available,<;>
2-11 <(3)> the reserve funds and capitalized interest, as
2-12 certified by the authority as reasonably required, have been
2-13 paid,<;> and
2-14 <(4)> the costs of issuing the bonds or obligations
2-15 have been paid after receiving a certificate from the authority
2-16 specifying those costs.
2-17 SECTION 3. Subsection (c), Section 5, Chapter 696, Acts of
2-18 the 70th Legislature, Regular Session, 1987 (Article 601d-1,
2-19 Vernon's Texas Civil Statutes), is amended to read as follows:
2-20 (c) The appropriate agency may begin approved projects
2-21 after:
2-22 (1) the authority has certified that obligations in an
2-23 amount sufficient to pay the construction or purchase price of the
2-24 project have been authorized for issuance by the authority under an
2-25 interim construction finance agreement established by the authority
3-1 in accordance with Chapter 656, Acts of the 68th Legislature,
3-2 Regular Session, 1983 (Article 717q, Vernon's Texas Civil
3-3 Statutes), and its subsequent amendments; or
3-4 (2) <Once> the funds are deposited, <and> the
3-5 comptroller of public accounts has certified that the funds are
3-6 available, <and after transfer of> any reserve funds or capitalized
3-7 interest certified to be reasonably required by the authority has
3-8 been transferred, and <payment of> the costs of issuance of the
3-9 bonds have been paid based on a statement by the authority that
3-10 specifies those costs<, the appropriate agency may begin approved
3-11 projects>.
3-12 SECTION 4. The importance of this legislation and the
3-13 crowded condition of the calendars in both houses create an
3-14 emergency and an imperative public necessity that the
3-15 constitutional rule requiring bills to be read on three several
3-16 days in each house be suspended, and this rule is hereby suspended,
3-17 and that this Act take effect and be in force from and after its
3-18 passage, and it is so enacted.