By McCoulskey                                         H.B. No. 2969
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the acquisition and disposition of land and facilities
    1-3  by a municipality and to the issuance of municipal bonds.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 2, Article 835s, Revised Statutes, is
    1-6  amended to read as follows:
    1-7        Sec. 2.  ACQUISITION AUTHORIZED.  A home-rule or general-law
    1-8  municipality may acquire, by any lawful means other than eminent
    1-9  domain, land and may construct or otherwise acquire a building or
   1-10  other facility for the purpose of selling, pursuant to an
   1-11  installment sale agreement or otherwise, or leasing, with or
   1-12  without an option to purchase, without the need for public notice
   1-13  or bidding, and otherwise on such terms as the governing body of
   1-14  the municipality may find acceptable, the land, building, or other
   1-15  facility to a political subdivision or agency of the state,
   1-16  including, but not limited to, an "institution of higher education"
   1-17  under Section 61.003, Education Code, which will provide a
   1-18  significant number of vocational and vocational-technical education
   1-19  courses in the facility, for public use or to an individual,
   1-20  private corporation, or other private entity for use in
   1-21  manufacturing or another commercial activity.
   1-22        SECTION 2.  Subsection (a), Section 4, Article 835s, Revised
   1-23  Statutes, is amended to read as follows:
    2-1        (a)  The municipality may provide for the payment of the
    2-2  principal of and interest on the bonds:
    2-3              (1)  by pledging all or any part of the designated
    2-4  revenues from the sale or <a> lease of any or all of the land,
    2-5  building, or other facility after deduction of the reasonable cost
    2-6  of operation and maintenance;
    2-7              (2)  from the collection of an annual ad valorem tax
    2-8  levied on all taxable property within the municipality; or
    2-9              (3)  from a combination of the sources described by
   2-10  Subdivisions (1) and (2) of this section.
   2-11        SECTION 3.  Section 7, Article 835s, Revised Statutes, is
   2-12  amended to read as follows:
   2-13        Sec. 7.  EXECUTION OF DOCUMENTS.  The governing body of the
   2-14  municipality may adopt and have executed any other proceedings or
   2-15  instruments necessary and convenient in the issuance of the bonds
   2-16  and in the acquisition and sale or lease of any land, building, or
   2-17  other facility under Section 2 of this article.
   2-18        SECTION 4.  The importance of this legislation and the
   2-19  crowded condition of the calendars in both houses create an
   2-20  emergency and an imperative public necessity that the
   2-21  constitutional rule requiring bills to be read on three several
   2-22  days in each house be suspended, and this rule is hereby suspended,
   2-23  and that this Act take effect and be in force from and after its
   2-24  passage, and it is so enacted.