By Brimer                                             H.B. No. 2388
          Substitute the following for H.B. No. 2388:
          By Carona                                         C.S.H.B. No. 2388
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the authority of municipalities to secure obligations
    1-3  with the revenues from impact fees and permitting municipalities to
    1-4  pledge impact fees as security for obligations.
    1-5        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-6        SECTION 1.  Section 395.012, Local Government Code, is
    1-7  amended by adding Subsection (d) to read as follows:
    1-8        (d)  A municipality is authorized to pledge any such impact
    1-9  fees as security for the payment of debt service on any bonds,
   1-10  notes, or other obligations heretofore or hereafter issued to
   1-11  finance, in whole or in part, the capital improvements or facility
   1-12  expansions identified in the capital improvements plan, provided
   1-13  that at the time such a pledge is established the governing body of
   1-14  the municipality certifies in the order, ordinance, or resolution
   1-15  establishing such pledge that none of the impact fees so pledged
   1-16  shall be expended for facilities that are not identified in the
   1-17  capital improvements plan.  Any such certification made by a
   1-18  governing body shall be wholly sufficient evidence that none of the
   1-19  impact fees so pledged have been or will be expended for facilities
   1-20  that are not identified in the capital improvements plan.
   1-21        SECTION 2.  This Act takes effect September 1, 1995.
   1-22        SECTION 3.  The importance of this legislation and the
   1-23  crowded condition of the calendars in both houses create an
    2-1  emergency and an imperative public necessity that the
    2-2  constitutional rule requiring bills to be read on three several
    2-3  days in each house be suspended, and this rule is hereby suspended.