1-1                                   AN ACT

 1-2     relating to short-term obligations issued by certain counties.

 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-4           SECTION 1.  Section 1(1), Chapter 656, Acts of the 68th

 1-5     Legislature, Regular Session, 1983 (Article 717q, Vernon's Texas

 1-6     Civil Statutes), is amended to read as follows:

 1-7                 (1)  "Issuer" means (A) any incorporated city operating

 1-8     under a home-rule charter adopted pursuant to Article XI, Section

 1-9     5, of the Constitution of Texas having a population according to

1-10     the latest federal decennial census of 90,000 or more and having

1-11     outstanding long-term debt secured by the revenues of the public

1-12     utility for which the obligations are being issued which is rated

1-13     by a nationally recognized rating agency for municipal securities

1-14     in one of the four highest rating categories for long-term

1-15     obligations; (B) any conservation and reclamation district created

1-16     and organized as a river authority under and pursuant to Article

1-17     III, Section 52, or Article XVI, Section 59, of the Constitution of

1-18     Texas and by an act of the legislature of the State of Texas; (C)

1-19     any joint powers agency organized and operating pursuant to Chapter

1-20     166, Acts of the 63rd Legislature, Regular Session, 1973 (Article

1-21     1435a, Revised Statutes); (D) any metropolitan rapid transit

1-22     authority or regional transportation authority created, organized,

1-23     and operating pursuant to Chapter 141, Acts of the 63rd

1-24     Legislature, Regular Session, 1973 (Article 1118x, Revised

 2-1     Statutes) or Chapter 683, Acts of the 66th Legislature, Regular

 2-2     Session, 1979 (Article 1118y, Revised Statutes); (E) any

 2-3     conservation and reclamation district organized or operating as a

 2-4     navigation district under and pursuant to Article III, Section 52,

 2-5     or Article XVI, Section 59, of the Constitution of Texas; (F) any

 2-6     district organized or operating under and pursuant to Article XVI,

 2-7     Section 59, of the Constitution of Texas which has all or part of

 2-8     two or more incorporated cities within its boundaries; (G) agencies

 2-9     of the State of Texas (including the governing boards of the state

2-10     institutions of higher education); (H) any hospital authority in a

2-11     county with a population of more than 2 million, according to the

2-12     most recent federal census, or any hospital authority in a county

2-13     that is included, in whole or in part, in a standard metropolitan

2-14     statistical area of this state that includes a county with a

2-15     population of more than 1,800,000, that was created or is operating

2-16     under Chapter 262, Health and Safety Code, or Chapter 264, Health

2-17     and Safety Code; (I) any nonprofit corporation organized to

2-18     exercise the powers of a higher education authority under

2-19     Subsection (e), Section 53.47, Education Code; and (J) a county

2-20     having a population of 2 million or more according to the most

2-21     recent federal census [with respect to eligible projects described

2-22     in Subdivisions (3)(A)(4) and (3)(A)(5) of this section].

2-23           SECTION 2.  The importance of this legislation and the

2-24     crowded condition of the calendars in both houses create an

2-25     emergency and an imperative public necessity that the

2-26     constitutional rule requiring bills to be read on three several

2-27     days in each house be suspended, and this rule is hereby suspended,

 3-1     and that this Act take effect and be in force from and after its

 3-2     passage, and it is so enacted.

         _______________________________     _______________________________

             President of the Senate              Speaker of the House

               I certify that H.B. No. 799 was passed by the House on April

         3, 1997, by a non-record vote.

                                             _______________________________

                                                 Chief Clerk of the House

               I certify that H.B. No. 799 was passed by the Senate on May

         5, 1997, by the following vote:  Yeas 31, Nays 0.

                                             _______________________________

                                                 Secretary of the Senate

         APPROVED:  _____________________

                            Date

                    _____________________

                          Governor