Amend HB 2577 by adding a new appropriately numbered section
to read as follows, and renumbering existing sections accordingly:
      SECTION ___.  Section 373.005, Local Government Code, is
amended by adding a new subsection (d) to read as follows:
      (d)  A municipality may issue notes or other obligations
guaranteed by the Secretary of Housing and Urban Development under
Section 108 of the Housing and Community Development Act of 1974
(42 U.S.C. Section 5308), as amended, for the purpose of providing
financing for those activities described in Section 108 of the
Housing and Community Development Act (42 U.S.C. 5308), as amended,
in furtherance of an approved community development program.  The
Section 108 guaranteed notes additionally may be secured by and
made payable from the same sources as obligations issued under
Subchapter C, Chapter 271, Local Government Code, subject to the
notice provisions set forth therein.  The Section 108 guaranteed
notes or other obligations may be issued in such form,
denominations, manner, terms and conditions, bear interest at such
rates, be interim or permanent notes or obligations, be subject to
transfer, exchange, change, conversion, or replacement, and be sold
in such manner, at such price, and under such terms, all as
provided in the ordinance or resolution authorizing the issuance of
such Section 108 guaranteed notes or obligations.