By:  Patterson                                        S.B. No. 1501
       73R10619 CAG-F
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the validation of governmental acts and proceedings
    1-3  concerning the issuance of bonds by certain municipal park boards
    1-4  of trustees.
    1-5        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-6        SECTION 1.  Title 28, Revised Statutes, is amended by adding
    1-7  Article 974d-44 to read as follows:
    1-8        Art. 974d-44
    1-9        Sec. 1.  APPLICATION.  This article  applies to any park
   1-10  board of trustees of a municipality with a population of more than
   1-11  59,000 and located adjacent to the Gulf of Mexico.
   1-12        Sec. 2.  ACTS AND PROCEEDINGS VALIDATED.   (a)  The
   1-13  governmental acts and proceedings of a park board of trustees
   1-14  occurring before the effective date of this article and relating to
   1-15  the issuance of bonds and the source of revenues pledged for the
   1-16  payment of bonds are validated as of the dates they occurred.   The
   1-17  acts and proceedings may not be held invalid because they were not
   1-18  performed in accordance with law.
   1-19        (b)  A park board of trustees may take any further action or
   1-20  conduct any further proceeding necessary to complete the issuance
   1-21  of the bonds, and, when issued, the bonds are valid and binding
   1-22  obligations of the park board of trustees in accordance with the
   1-23  terms of the bonds.
   1-24        Sec. 3.  ISSUANCE OF REFUNDING BONDS.  Refunding bonds may be
    2-1  issued for the purpose of refunding one or more series or
    2-2  installments of outstanding original or refunding bonds validated
    2-3  by this article.
    2-4        Sec. 4.  EFFECT ON LITIGATION.  This article does not apply
    2-5  to any matter that on the effective date of this article:
    2-6              (1)  is involved in litigation if the litigation
    2-7  ultimately results in the matter being held invalid by a final
    2-8  judgment of a court of competent jurisdiction; or
    2-9              (2)  has been held invalid by a final judgment of a
   2-10  court of competent jurisdiction.
   2-11        SECTION 2.  The importance of this legislation and the
   2-12  crowded condition of the calendars in both houses create an
   2-13  emergency and an imperative public necessity that the
   2-14  constitutional rule requiring bills to be read on three several
   2-15  days in each house be suspended, and this rule is hereby suspended,
   2-16  and that this Act take effect and be in force from and after its
   2-17  passage, and it is so enacted.