1-1 By: Barrientos S.B. No. 977
1-2 (In the Senate - Filed March 11, 1993; March 15, 1993, read
1-3 first time and referred to Committee on Finance; April 14, 1993,
1-4 reported adversely, with favorable Committee Substitute by the
1-5 following vote: Yeas 11, Nays 0; April 14, 1993, sent to printer.)
1-6 COMMITTEE VOTE
1-7 Yea Nay PNV Absent
1-8 Montford x
1-9 Turner x
1-10 Armbrister x
1-11 Barrientos x
1-12 Bivins x
1-13 Ellis x
1-14 Haley x
1-15 Moncrief x
1-16 Parker x
1-17 Ratliff x
1-18 Sims x
1-19 Truan x
1-20 Zaffirini x
1-21 COMMITTEE SUBSTITUTE FOR S.B. No. 977 By: Barrientos
1-22 A BILL TO BE ENTITLED
1-23 AN ACT
1-24 relating to financing by the Texas Public Finance Authority of
1-25 certain facilities and equipment for state agencies.
1-26 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-27 SECTION 1. Subsection (d), Section 9A, Texas Public Finance
1-28 Authority Act (Article 601d, Vernon's Texas Civil Statutes), is
1-29 amended to read as follows:
1-30 (d) State agencies are authorized to enter into the types of
1-31 contracts and agreements delineated in this section for the purpose
1-32 of purchasing or leasing necessary equipment. If a law requires a
1-33 state agency to obtain the approval of another state agency or
1-34 perform any other act before a state agency may purchase or lease
1-35 computer equipment, then those requirements must be satisfied
1-36 before an agency may enter into a contract or agreement under this
1-37 Act. The authority shall promulgate rules so that the equipment
1-38 may not be financed <obligations are not issued and sold> before
1-39 the authority receives written proof that the requirements have
1-40 been satisfied.
1-41 SECTION 2. Subsection (b), Section 23, Texas Public Finance
1-42 Authority Act (Article 601d, Vernon's Texas Civil Statutes), is
1-43 amended to read as follows:
1-44 (b) The process of acquiring or constructing a building or
1-45 purchasing or leasing equipment may begin after:
1-46 (1) the authority has certified that obligations in an
1-47 amount sufficient to pay the construction or purchase price of the
1-48 project have been authorized for issuance by the authority under an
1-49 interim construction finance agreement established by the authority
1-50 in accordance with Chapter 656, Acts of the 68th Legislature,
1-51 Regular Session, 1983 (Article 717q, Vernon's Texas Civil
1-52 Statutes), and its subsequent amendments; or
1-53 (2) the proceeds have been deposited into the state
1-54 treasury,<;>
1-55 <(2)> the comptroller of public accounts has certified
1-56 that the proceeds are available,<;>
1-57 <(3)> the reserve funds and capitalized interest, as
1-58 certified by the authority as reasonably required, have been
1-59 paid,<;> and
1-60 <(4)> the costs of issuing the bonds or obligations
1-61 have been paid after receiving a certificate from the authority
1-62 specifying those costs.
1-63 SECTION 3. Subsection (c), Section 5, Chapter 696, Acts of
1-64 the 70th Legislature, Regular Session, 1987 (Article 601d-1,
1-65 Vernon's Texas Civil Statutes), is amended to read as follows:
1-66 (c) The appropriate agency may begin approved projects
1-67 after:
1-68 (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) <Once> the funds are deposited, <and> the
2-8 comptroller of public accounts has certified that the funds are
2-9 available, <and after transfer of> any reserve funds or capitalized
2-10 interest certified to be reasonably required by the authority has
2-11 been transferred, and <payment of> the costs of issuance of the
2-12 bonds have been paid based on a statement by the authority that
2-13 specifies those costs<, the appropriate agency may begin approved
2-14 projects>.
2-15 SECTION 4. The importance of this legislation and the
2-16 crowded condition of the calendars in both houses create an
2-17 emergency and an imperative public necessity that the
2-18 constitutional rule requiring bills to be read on three several
2-19 days in each house be suspended, and this rule is hereby suspended,
2-20 and that this Act take effect and be in force from and after its
2-21 passage, and it is so enacted.
2-22 * * * * *
2-23 Austin,
2-24 Texas
2-25 April 14, 1993
2-26 Hon. Bob Bullock
2-27 President of the Senate
2-28 Sir:
2-29 We, your Committee on Finance to which was referred S.B. No. 977,
2-30 have had the same under consideration, and I am instructed to
2-31 report it back to the Senate with the recommendation that it do not
2-32 pass, but that the Committee Substitute adopted in lieu thereof do
2-33 pass and be printed.
2-34 Montford,
2-35 Chairman
2-36 * * * * *
2-37 WITNESSES
2-38 No witnesses appeared on S.B. No. 977.