1-1     By:  Hightower (Senate Sponsor - Nixon)               H.B. No. 1154

 1-2           (In the Senate - Received from the House March 20, 1997;

 1-3     March 24, 1997, read first time and referred to Committee on

 1-4     Natural Resources; May 1, 1997, reported favorably by the following

 1-5     vote:  Yeas 7, Nays 0; May 1, 1997, sent to printer.)

 1-6                            A BILL TO BE ENTITLED

 1-7                                   AN ACT

 1-8     relating to the purchase by the Texas Water Development Board of

 1-9     certain bonds or other obligations issued by a political

1-10     subdivision.

1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

1-12           SECTION 1.  Subchapter E, Chapter 17, Water Code, is amended

1-13     by adding Section 17.1765 to read as follows:

1-14           Sec. 17.1765.  CERTIFICATION OF APPLICATION.  Before the

1-15     board may purchase bonds or other obligations issued by a political

1-16     subdivision, the political subdivision must certify to the board

1-17     that the application for financial assistance filed with the board

1-18     was approved in an open meeting.

1-19           SECTION 2.  This Act takes effect September 1, 1997, and

1-20     applies only to the purchase of bonds or other obligations by the

1-21     Texas Water Development Board under an application for financial

1-22     assistance that is filed with the board on or after that date.  The

1-23     purchase of bonds or other obligations by the Texas Water

1-24     Development Board under an application for financial assistance

1-25     that is filed with the board before the effective date of this Act

1-26     is governed by the law in effect on the date the application was

1-27     filed, and that law is continued in effect for that purpose.

1-28           SECTION 3.  The importance of this legislation and the

1-29     crowded condition of the calendars in both houses create an

1-30     emergency and an imperative public necessity that the

1-31     constitutional rule requiring bills to be read on three several

1-32     days in each house be suspended, and this rule is hereby suspended.

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