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                                  * * * * *