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. 1-33 * * * * *