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