By: Armbrister S.B. No. 1467 A BILL TO BE ENTITLED AN ACT 1-1 relating to validation of certain acts and proceedings of certain 1-2 corporations created under the Health Facilities Development Act 1-3 and to the authority of corporations created under that Act to 1-4 refund outstanding bonds. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. VALIDATION. (a) In this section, "corporation" 1-7 means a hospital development corporation that was created or 1-8 attempted to be created pursuant to the Health Facilities 1-9 Development Act (Chapter 221, Health & Safety Code). 1-10 (b) This section applies to all acts, resolutions, orders, 1-11 instruments, obligations, and proceedings whatsoever taken, 1-12 adopted, authorized, issued, entered into, or delivered by any 1-13 corporation before January 1, 1993. 1-14 (c) All such acts, resolutions, orders, instruments, 1-15 obligations, and proceedings of a corporation before January 1, 1-16 1993, are in all respects validated, ratified, approved, and 1-17 confirmed as of the date they were taken, adopted, authorized, 1-18 issued, entered into, or delivered and shall be treated as though 1-19 they had originally been duly authorized and accomplished in 1-20 accordance with law. Any such acts, resolutions, orders, 1-21 instruments, obligations, or proceedings shall not be held invalid 1-22 because they were not taken, adopted, authorized, issued, entered 1-23 into, or delivered in accordance with law. All governmental acts 2-1 and proceedings of cities, counties, and hospital districts in 2-2 connection with the authorization and approval of any acts, 2-3 resolutions, orders, instruments, obligations, and proceedings of a 2-4 corporation are validated, ratified, approved, and confirmed as of 2-5 their original date. 2-6 (d) This section does not apply to any matter that on the 2-7 effective date of this section: 2-8 (1) is involved in litigation if the litigation 2-9 ultimately results in the matter being held invalid by a final 2-10 judgment of a court of competent jurisdiction; or 2-11 (2) has been held invalid by a court of competent 2-12 jurisdiction. 2-13 SECTION 2. AMENDMENT. Subsection (a), Section 221.065, 2-14 Health & Safety Code, is amended to read as follows: 2-15 (a) A development corporation may issue bonds to refund any 2-16 of its valid outstanding bonds, including any bonds issued for 2-17 unspecified projects and including any redemption premium on the 2-18 bonds and interest accrued to the date of redemption, on a finding 2-19 by the board of directors of the development corporation that there 2-20 is a public benefit and a public purpose for the refunding. 2-21 SECTION 3. EMERGENCY. The importance of this legislation 2-22 and the crowded condition of the calendars in both houses create an 2-23 emergency and an imperative public necessity that the 2-24 constitutional rule requiring bills to be read on three several 2-25 days in each house be suspended, and this rule is hereby suspended, 3-1 and that this Act take effect and be in force from and after its 3-2 passage, and it is so enacted.