By Romo H.B. No. 1321 74R5632 RJA-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the issuance of bonds for certain state agencies by the 1-3 Texas Public Finance Authority. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Section 9B(a), Texas Public Finance Authority Act 1-6 (Article 601d, Vernon's Texas Civil Statutes), is amended to read 1-7 as follows: 1-8 (a) With respect to all bonds authorized to be issued by the 1-9 Texas National Guard Armory Board, Texas National Research 1-10 Laboratory Commission, Parks and Wildlife Department, Texas 1-11 Department of Commerce, Texas Higher Education Coordinating Board, 1-12 Texas Agricultural Finance Authority, and all institutions of 1-13 higher education authorized to issue bonds under Chapter 55, 1-14 Education Code, the authority has the exclusive authority to act on 1-15 behalf of those entities in issuing bonds on their behalf. In 1-16 connection with those issuances and with the issuance of refunding 1-17 bonds on behalf of those entities, the authority is subject to all 1-18 rights, duties, and conditions surrounding issuance previously 1-19 applicable to the issuing entity under the statute authorizing the 1-20 issuance. All references in an authorizing statute to the entity 1-21 on whose behalf the bonds are being issued apply equally to the 1-22 authority in its capacity as issuer on behalf of the entity. 1-23 SECTION 2. Subchapter D, Chapter 58, Agriculture Code, is 1-24 amended by adding Section 58.041 to read as follows: 2-1 Sec. 58.041. BOND ISSUANCE BY TEXAS PUBLIC FINANCE 2-2 AUTHORITY. The Texas Public Finance Authority shall exercise the 2-3 board's authority provided by law to issue bonds and refunding 2-4 bonds. The Texas Public Finance Authority is subject to all 2-5 rights, duties, and conditions provided by law with respect to 2-6 issuance of bonds by the board. 2-7 SECTION 3. Subchapter C, Chapter 61, Education Code, is 2-8 amended by adding Section 61.084 to read as follows: 2-9 Sec. 61.084. BOND ISSUANCE BY TEXAS PUBLIC FINANCE 2-10 AUTHORITY. (a) The Texas Public Finance Authority shall exercise 2-11 the board's authority provided by law to issue bonds and refunding 2-12 bonds. The Texas Public Finance Authority is subject to all 2-13 rights, duties, and conditions provided by law with respect to 2-14 issuance of bonds by the board. 2-15 (b) For purposes of Sections 50b, 50b-1, 50b-2, and 50b-3, 2-16 Article III, Texas Constitution, the authority is the successor to 2-17 the board. 2-18 SECTION 4. Subchapter A, Chapter 481, Government Code, is 2-19 amended by adding Section 481.0091 to read as follows: 2-20 Sec. 481.0091. BOND ISSUANCE BY TEXAS PUBLIC FINANCE 2-21 AUTHORITY. The Texas Public Finance Authority shall exercise the 2-22 department's authority provided by law to issue bonds and refunding 2-23 bonds. The Texas Public Finance Authority is subject to all 2-24 rights, duties, and conditions provided by law with respect to 2-25 issuance of bonds by the department. 2-26 SECTION 5. The importance of this legislation and the 2-27 crowded condition of the calendars in both houses create an 3-1 emergency and an imperative public necessity that the 3-2 constitutional rule requiring bills to be read on three several 3-3 days in each house be suspended, and this rule is hereby suspended.