By Madla                                              S.B. No. 1646
       74R9234 CAG-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the ability of a public housing authority to sponsor a
    1-3  public facility corporation.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 1.003, Public Facility Corporation Act
    1-6  (Article 717s, Revised Statutes), is amended to read as follows:
    1-7        Sec. 1.003.  Definitions.  In this article:
    1-8              (1)  "Board of directors" means the board of directors
    1-9  of a corporation.
   1-10              (2)  "Bonds" means bonds, notes, interim certificates,
   1-11  or other evidences of indebtedness of a corporation issued or
   1-12  incurred under this article.
   1-13              (3)  "City" means any municipality existing under the
   1-14  laws of this state.
   1-15              (4)  "Corporation" means any public facility
   1-16  corporation created and existing under this article.
   1-17              (5)  "Cost of issuance" means all costs relating to the
   1-18  issuance or incurrence of bonds by a corporation and the purchase
   1-19  of sponsor obligations by a corporation.  The term includes the
   1-20  cost of financing charges and interest on the bonds; the cost of
   1-21  financing, legal, accounting, financial advisory, and appraisal
   1-22  fees, expenses, and disbursements; the cost of any policy or
   1-23  policies of insurance; the cost of printing, engraving, and
   1-24  reproduction services; the cost of the initial and acceptance fees
    2-1  of any trustee, paying agent, bond registrar, and authenticating
    2-2  agent; the cost of any credit agreement; and reasonable sums to
    2-3  reimburse the corporation for time spent by its agents or employees
    2-4  with respect to the issuance, incurrence, or purchase.
    2-5              (6)  "County" means a political subdivision of this
    2-6  state that is created pursuant to Article IX, Section 1, of the
    2-7  Texas Constitution or a county created pursuant to other law.
    2-8              (7)  "Credit agreement" means any loan agreement,
    2-9  revolving credit agreement, agreement establishing a line of
   2-10  credit, letter of credit, reimbursement agreement, insurance
   2-11  contract, commitments to purchase bonds or sponsor obligations,
   2-12  purchase or sale agreements, or commitments or other contracts or
   2-13  agreements authorized and approved by the board of directors of a
   2-14  corporation in connection with the authorization, issuance,
   2-15  incurrence, sale, security, exchange, payment, purchase, or
   2-16  redemption of bonds or interest on bonds.
   2-17              (8)  "Director" means any member of a board of
   2-18  directors.
   2-19              (9)  "Housing authority" means a public corporation
   2-20  that is created under Chapter 392, Local Government Code.
   2-21              (10)  "Public facility" means any real, personal, or
   2-22  mixed property, or any interest in property owned or to be owned by
   2-23  a sponsor, devoted or to be devoted to public use, and authorized
   2-24  to be financed, refinanced, or provided by sponsor obligations.
   2-25              (11) <(10)>  "Resolution" means any resolution, order,
   2-26  ordinance, or other official action by the governing body of a
   2-27  sponsor.
    3-1              (12) <(11)>  "School district" means a political
    3-2  subdivision of this state that is created pursuant to Article VII,
    3-3  Section 3, of the Texas Constitution.
    3-4              (13) <(12)>  "Special district" means any district that
    3-5  is created pursuant to Article III, Section 52, or Article XVI,
    3-6  Section 59, of the Texas Constitution or is a hospital district or
    3-7  authority or is a junior college as defined in Chapter 130,
    3-8  Education Code.
    3-9              (14) <(13)>  "Sponsor" means any city, county, school
   3-10  district, housing authority, or special district that causes a
   3-11  corporation to be created to act in accordance with this article.
   3-12              (15) <(14)>  "Sponsor obligation" means any evidence of
   3-13  indebtedness or obligation that a sponsor issues or incurs to
   3-14  finance, refinance, or provide a public facility, including bonds,
   3-15  notes, warrants, certificates of obligation, leases, and contracts
   3-16  authorized by Part 4 of this article.
   3-17        SECTION 2.  The importance of this legislation and the
   3-18  crowded condition of the calendars in both houses create an
   3-19  emergency and an imperative public necessity that the
   3-20  constitutional rule requiring bills to be read on three several
   3-21  days in each house be suspended, and this rule is hereby suspended,
   3-22  and that this Act take effect and be in force from and after its
   3-23  passage, and it is so enacted.