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.
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