BILL ANALYSIS H.B. 3061 By: Smithee 03-27-95 Committee Report (Unamended) BACKGROUND Swisher Memorial Hospital District is presently experiencing financial difficulties which could lead to the closure of the Hospital. The Board of Directors desire to borrow money before the 1995 taxes are collected. However, the Hospital District's enabling legislation and the current statutes do not make any provision to allow the District to borrow such money. PURPOSE To amend the Hospital's enabling legislation to give the Board of Directors the authority to issue Anticipation Notes and Certificates of Obligation. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency or institution. SECTION BY SECTION ANALYSIS SECTION 1. Amends Chapter 16, Acts of the 59th Legislature, Regular Session, 1965, by adding Section 7A. Sec. 7A. The Board of Directors of the Hospital District may issue anticipation notes and certificates of obligation. SECTION 2. Emergency clause and Effective Date SUMMARY OF COMMITTEE ACTION HB 3061 was considered by the County Affairs Committee in a public hearing on 3/29/95. HB 3061 was reported favorably with the recommendation that it do pass and be printed and be sent to the Committee on Local and Consent Calendars by the record vote of 8 ayes, 0 nays , 0 pnv, 1 absent.