1-1 By: Elkins (Senate Sponsor - Lindsay) H.B. No. 799
1-2 (In the Senate - Received from the House April 4, 1997;
1-3 April 8, 1997, read first time and referred to Committee on State
1-4 Affairs; April 29, 1997, reported favorably by the following vote:
1-5 Yeas 10, Nays 0; April 29, 1997, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to short-term obligations issued by certain counties.
1-9 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-10 SECTION 1. Section 1(1), Chapter 656, Acts of the 68th
1-11 Legislature, Regular Session, 1983 (Article 717q, Vernon's Texas
1-12 Civil Statutes), is amended to read as follows:
1-13 (1) "Issuer" means (A) any incorporated city operating
1-14 under a home-rule charter adopted pursuant to Article XI, Section
1-15 5, of the Constitution of Texas having a population according to
1-16 the latest federal decennial census of 90,000 or more and having
1-17 outstanding long-term debt secured by the revenues of the public
1-18 utility for which the obligations are being issued which is rated
1-19 by a nationally recognized rating agency for municipal securities
1-20 in one of the four highest rating categories for long-term
1-21 obligations; (B) any conservation and reclamation district created
1-22 and organized as a river authority under and pursuant to Article
1-23 III, Section 52, or Article XVI, Section 59, of the Constitution of
1-24 Texas and by an act of the legislature of the State of Texas; (C)
1-25 any joint powers agency organized and operating pursuant to Chapter
1-26 166, Acts of the 63rd Legislature, Regular Session, 1973 (Article
1-27 1435a, Revised Statutes); (D) any metropolitan rapid transit
1-28 authority or regional transportation authority created, organized,
1-29 and operating pursuant to Chapter 141, Acts of the 63rd
1-30 Legislature, Regular Session, 1973 (Article 1118x, Revised
1-31 Statutes) or Chapter 683, Acts of the 66th Legislature, Regular
1-32 Session, 1979 (Article 1118y, Revised Statutes); (E) any
1-33 conservation and reclamation district organized or operating as a
1-34 navigation district under and pursuant to Article III, Section 52,
1-35 or Article XVI, Section 59, of the Constitution of Texas; (F) any
1-36 district organized or operating under and pursuant to Article XVI,
1-37 Section 59, of the Constitution of Texas which has all or part of
1-38 two or more incorporated cities within its boundaries; (G) agencies
1-39 of the State of Texas (including the governing boards of the state
1-40 institutions of higher education); (H) any hospital authority in a
1-41 county with a population of more than 2 million, according to the
1-42 most recent federal census, or any hospital authority in a county
1-43 that is included, in whole or in part, in a standard metropolitan
1-44 statistical area of this state that includes a county with a
1-45 population of more than 1,800,000, that was created or is operating
1-46 under Chapter 262, Health and Safety Code, or Chapter 264, Health
1-47 and Safety Code; (I) any nonprofit corporation organized to
1-48 exercise the powers of a higher education authority under
1-49 Subsection (e), Section 53.47, Education Code; and (J) a county
1-50 having a population of 2 million or more according to the most
1-51 recent federal census [with respect to eligible projects described
1-52 in Subdivisions (3)(A)(4) and (3)(A)(5) of this section].
1-53 SECTION 2. The importance of this legislation and the
1-54 crowded condition of the calendars in both houses create an
1-55 emergency and an imperative public necessity that the
1-56 constitutional rule requiring bills to be read on three several
1-57 days in each house be suspended, and this rule is hereby suspended,
1-58 and that this Act take effect and be in force from and after its
1-59 passage, and it is so enacted.
1-60 * * * * *