H.B. No. 320
    1-1                                AN ACT
    1-2  relating to excluding land from the New Caney Municipal Utility
    1-3  District.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  DEFINITION.  In this Act, "district" means the
    1-6  New Caney Municipal Utility District.
    1-7        SECTION 2.  EXCLUSION OF TERRITORY.  The boundaries of the
    1-8  district are adjusted to exclude the following plot of land:  Being
    1-9  66.740 acres of land in MH short survey, abstract #509; being the
   1-10  same land called 66 acres by deed recorded in Volume 505, page 383,
   1-11  of the Montgomery County Deed Records.
   1-12        SECTION 3.  RIGHTS OF BONDHOLDERS.  The exclusion of land
   1-13  under this Act does not diminish or impair the rights of the
   1-14  holders of any outstanding and unpaid bonds, warrants, or other
   1-15  certificates of indebtedness of the district.
   1-16        SECTION 4.  APPORTIONMENT OF DISTRICT INDEBTEDNESS.  (a)  The
   1-17  excluded land is not released from the payment of its pro rata
   1-18  share of the district's indebtedness.
   1-19        (b)  The district shall continue to levy taxes each year on
   1-20  the property excluded from the district at the same rate levied on
   1-21  other property of the district, until the taxes collected from the
   1-22  excluded land equal its pro rata share of the indebtedness of the
   1-23  district at the time of the exclusion of the land.  The taxes
   1-24  collected shall be applied exclusively to the payment of the
    2-1  excluded land's pro rata share of the indebtedness.
    2-2        (c)  The owner of all or part of the excluded land at any
    2-3  time may pay in full the owner's share of the pro rata share of the
    2-4  indebtedness of the district.
    2-5        SECTION 5.  EMERGENCY.  The importance of this legislation
    2-6  and the crowded condition of the calendars in both houses create an
    2-7  emergency and an imperative public necessity that the
    2-8  constitutional rule requiring bills to be read on three several
    2-9  days in each house be suspended, and this rule is hereby suspended,
   2-10  and that this Act take effect and be in force from and after its
   2-11  passage, and it is so enacted.