1-1 AN ACT 1-2 relating to the issuance of bonds under the Higher Education 1-3 Authority Act. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Subchapter C, Chapter 53, Education Code, is 1-6 amended by adding Section 53.49 to read as follows: 1-7 Sec. 53.49. BONDS FOR CERTAIN SCHOOLS OWNED AND OPERATED BY 1-8 NONPROFIT CORPORATIONS. (a) In the same manner that a corporation 1-9 may issue bonds under this chapter for an institution of higher 1-10 education, a corporation created under Section 53.35(b) may issue 1-11 bonds to finance or refinance educational facilities to be used by 1-12 a school that: 1-13 (1) is located in a county with a population of more 1-14 than 1,800,000; 1-15 (2) is located within three miles of an area 1-16 designated as an enterprise zone under Chapter 2303, Government 1-17 Code; 1-18 (3) provides primary and secondary education to at 1-19 least 1,000 students; 1-20 (4) is accredited by an organization approved by the 1-21 Texas Education Agency for private school accreditation; and 1-22 (5) is owned and operated by a corporation created 1-23 under the Texas Non-Profit Corporation Act (Article 1396-1.01 et 1-24 seq., Vernon's Texas Civil Statutes). 2-1 (b) Notwithstanding Section 53.34(b), bonds issued under 2-2 this section may be payable from and secured by a pledge of any 2-3 revenue or assets pledged for that purpose. 2-4 SECTION 2. The importance of this legislation and the 2-5 crowded condition of the calendars in both houses create an 2-6 emergency and an imperative public necessity that the 2-7 constitutional rule requiring bills to be read on three several 2-8 days in each house be suspended, and this rule is hereby suspended, 2-9 and that this Act take effect and be in force from and after its 2-10 passage, and it is so enacted. _______________________________ _______________________________ President of the Senate Speaker of the House I certify that H.B. No. 1531 was passed by the House on April 11, 1997, by the following vote: Yeas 132, Nays 0, 2 present, not voting. _______________________________ Chief Clerk of the House I certify that H.B. No. 1531 was passed by the Senate on May 12, 1997, by the following vote: Yeas 31, Nays 0. _______________________________ Secretary of the Senate APPROVED: _____________________ Date _____________________ Governor