BILL ANALYSIS H.B. 3061 By: Smithee (Bivins) Intergovernmental Relations 05-10-95 Senate Committee Report (Unamended) BACKGROUND Swisher Memorial Hospital District (district) is presently experiencing financial difficulties which could lead to the closure of the hospital. The board of directors of the district desire to borrow money before the 1995 taxes are collected. However, the district's enabling legislation and the current statute do not make any provisions to allow the district to borrow the money. PURPOSE As proposed, H.B. 3061 authorizes the Swisher Memorial Hospital District to issue anticipation notes and certificates of obligation. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Chapter 16, Acts of the 59th Legislature, Regular Session, 1965, by adding Section 7A, as follows: Sec. 7A. ANTICIPATION NOTES AND CERTIFICATES OF OBLIGATION. Authorizes the board of directors of the Swisher Memorial Hospital District to issue anticipation notes under Article 717w, V.T.C.S., and certificates of obligation under Chapter 271C, Local Government Code. SECTION 2. Emergency clause. Effective date: upon passage.