By:  Brown                                            S.B. No. 1550
                                 A BILL TO BE ENTITLED
                                        AN ACT
    1-1  relating to the acquisition of land and facilities by a
    1-2  municipality; authorizing the issuance of municipal bonds.
    1-3        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  Section 2, Chapter 10, Acts of the 71st
    1-5  Legislature, First Called Session, 1989 (Article 835s, Vernon's
    1-6  Texas Civil Statutes), is amended to read as follows:
    1-7        Sec. 2.  A home-rule or general-law municipality may acquire,
    1-8  by any lawful means other than eminent domain, land and may
    1-9  construct or otherwise acquire a building or other facility for the
   1-10  purpose of selling, pursuant to an installment sale agreement or
   1-11  otherwise, or leasing, with or without an option to purchase,
   1-12  without the need for public notice or bidding, and otherwise on
   1-13  such terms as the governing body of the municipality may find
   1-14  acceptable, the land, building, or other facility to a political
   1-15  subdivision or agency of the state, including, but not limited to,
   1-16  an "institution of higher education" under Section 61.003,
   1-17  Education Code, which will provide a significant number of
   1-18  vocational and vocational-technical education courses in the
   1-19  facility, for public use or to an individual, private corporation,
   1-20  or other private entity for use in manufacturing or other
   1-21  commercial activity.
   1-22        SECTION 2.  Subdivision (1), Subsection (a), Section 4,
   1-23  Chapter 10, Acts of the 71st Legislature, First Called Session,
    2-1  1989 (Article 835s, Vernon's Texas Civil Statutes), is amended to
    2-2  read as follows:
    2-3        (1)  by pledging all or part of the designated revenues from
    2-4  the sale or lease of any or all of the land, building, or other
    2-5  facility after deduction of the reasonable cost of operation and
    2-6  maintenance.
    2-7        SECTION 3.  Section 7, Chapter 10, Acts of the 71st
    2-8  Legislature, First Called Session, 1989 (Article 835s, Vernon's
    2-9  Texas Civil Statutes), is amended to read as follows:
   2-10        Sec. 7.  The governing body of the municipality may adopt and
   2-11  have executed any other proceedings or instruments necessary and
   2-12  convenient in the issuance of the bonds and in the acquisition and
   2-13  sale or lease of any land, building, or other facility under
   2-14  Section 2 of this article.
   2-15        SECTION 4.  The importance of this legislation and the
   2-16  crowded condition of the calendars in both houses create an
   2-17  emergency and an imperative public necessity that the
   2-18  constitutional rule requiring bills to be read on three several
   2-19  days in each house be suspended, and this rule is hereby suspended,
   2-20  and that this Act take effect and be in force from and after its
   2-21  passage, and it is so enacted.