1-1  By:  Rabuck (Senate Sponsor - Galloway)                H.B. No. 320
    1-2        (In the Senate - Received from the House April 3, 1995;
    1-3  April 4, 1995, read first time and referred to Committee on
    1-4  Intergovernmental Relations; April 12, 1995, reported favorably by
    1-5  the following vote:  Yeas 10, Nays 0; April 12, 1995, sent to
    1-6  printer.)
    1-7                         A BILL TO BE ENTITLED
    1-8                                AN ACT
    1-9  relating to excluding land from the New Caney Municipal Utility
   1-10  District.
   1-11        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
   1-12        SECTION 1.  DEFINITION.  In this Act, "district" means the
   1-13  New Caney Municipal Utility District.
   1-14        SECTION 2.  EXCLUSION OF TERRITORY.  The boundaries of the
   1-15  district are adjusted to exclude the following plot of land:  Being
   1-16  66.740 acres of land in MH short survey, abstract #509; being the
   1-17  same land called 66 acres by deed recorded in Volume 505, page 383,
   1-18  of the Montgomery County Deed Records.
   1-19        SECTION 3.  RIGHTS OF BONDHOLDERS.  The exclusion of land
   1-20  under this Act does not diminish or impair the rights of the
   1-21  holders of any outstanding and unpaid bonds, warrants, or other
   1-22  certificates of indebtedness of the district.
   1-23        SECTION 4.  APPORTIONMENT OF DISTRICT INDEBTEDNESS.  (a)  The
   1-24  excluded land is not released from the payment of its pro rata
   1-25  share of the district's indebtedness.
   1-26        (b)  The district shall continue to levy taxes each year on
   1-27  the property excluded from the district at the same rate levied on
   1-28  other property of the district, until the taxes collected from the
   1-29  excluded land equal its pro rata share of the indebtedness of the
   1-30  district at the time of the exclusion of the land.  The taxes
   1-31  collected shall be applied exclusively to the payment of the
   1-32  excluded land's pro rata share of the indebtedness.
   1-33        (c)  The owner of all or part of the excluded land at any
   1-34  time may pay in full the owner's share of the pro rata share of the
   1-35  indebtedness of the district.
   1-36        SECTION 5.  EMERGENCY.  The importance of this legislation
   1-37  and the crowded condition of the calendars in both houses create an
   1-38  emergency and an imperative public necessity that the
   1-39  constitutional rule requiring bills to be read on three several
   1-40  days in each house be suspended, and this rule is hereby suspended,
   1-41  and that this Act take effect and be in force from and after its
   1-42  passage, and it is so enacted.
   1-43                               * * * * *