1-1 By: Sibley S.B. No. 1715 1-2 (In the Senate - Filed May 9, 1995; May 10, 1995, read first 1-3 time and referred to Committee on Economic Development; 1-4 May 11, 1995, reported favorably by the following vote: Yeas 8, 1-5 Nays 0; May 11, 1995, sent to printer.) 1-6 A BILL TO BE ENTITLED 1-7 AN ACT 1-8 relating to the authority of certain municipal hospital authorities 1-9 to borrow money. 1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-11 SECTION 1. Subchapter C, Chapter 262, Health and Safety 1-12 Code, is amended by adding Section 262.0225 to read as follows: 1-13 Sec. 262.0225. AUTHORITY TO BORROW MONEY. (a) This section 1-14 applies only to an authority created by a municipality with a 1-15 population of less than 5,000. 1-16 (b) The board may, on behalf of the authority, borrow money 1-17 from a federally insured lending institution for any of the 1-18 authority's purposes. 1-19 (c) The board may borrow money in the amount it considers 1-20 advisable subject to a rate of interest and other terms and 1-21 conditions it considers advisable. 1-22 (d) A loan for which bonds are pledged shall mature not 1-23 later than the first anniversary of the date on which the loan is 1-24 made. 1-25 SECTION 2. The importance of this legislation and the 1-26 crowded condition of the calendars in both houses create an 1-27 emergency and an imperative public necessity that the 1-28 constitutional rule requiring bills to be read on three several 1-29 days in each house be suspended, and this rule is hereby suspended, 1-30 and that this Act take effect and be in force from and after its 1-31 passage, and it is so enacted. 1-32 * * * * *