By Sibley                                             S.B. No. 1715
       74R6674 CLG-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the authority of certain municipal hospital authorities
    1-3  to borrow money.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Subchapter C, Chapter 262, Health and Safety
    1-6  Code, is amended by adding Section 262.0225 to read as follows:
    1-7        Sec. 262.0225.  AUTHORITY TO BORROW MONEY.  (a)  This section
    1-8  applies only to an authority created by a municipality with a
    1-9  population of less than 5,000.
   1-10        (b)  The board may, on behalf of the authority, borrow money
   1-11  from a federally insured lending institution for any of the
   1-12  authority's purposes.
   1-13        (c)  The board may borrow money in the amount it considers
   1-14  advisable subject to a rate of interest and other terms and
   1-15  conditions it considers advisable.
   1-16        (d)  A loan for which bonds are pledged shall mature not
   1-17  later than the first anniversary of the date on which the loan is
   1-18  made.
   1-19        SECTION 2.  The importance of this legislation and the
   1-20  crowded condition of the calendars in both houses create an
   1-21  emergency and an imperative public necessity that the
   1-22  constitutional rule requiring bills to be read on three several
   1-23  days in each house be suspended, and this rule is hereby suspended,
   1-24  and that this Act take effect and be in force from and after its
    2-1  passage, and it is so enacted.