By Moffat                                       H.B. No. 3477

      75R9213 T                           

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to information to be filed pertaining to certain bonds

 1-3     issued by and installment sale obligations of, municipalities with

 1-4     a population of less than 500.

 1-5           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-6           SECTION 1.  Section 3.003(d) of Article 717k-8, Vernon's

 1-7     Texas Civil Statutes is amended to read as follows:

 1-8           (d)  Notwithstanding any other provision of this Act, no

 1-9     bonds may be issued, nor shall any lease-purchase or installment

1-10     sale obligation be executed by a municipality (or an issuer created

1-11     by a municipality) with a population of less than 500 according to

1-12     the most recent federal decennial census if the property being

1-13     acquired is located outside the boundaries and extraterritorial

1-14     jurisdiction of the municipality unless an affidavit by all members

1-15     of the governing body of the municipality (or the issuer created by

1-16     the municipality) is filed with the Attorney General of Texas and

1-17     the Texas Bond Review Board setting forth all of the information

1-18     normally submitted to the Texas Bond Review Board.

1-19           SECTION 2.  The importance of this legislation and the

1-20     crowded condition of the calendars in both houses create an

1-21     emergency and an imperative public necessity that the

1-22     constitutional rule requiring bills to be read on three several

1-23     days in each house be suspended, and this rule is hereby suspended,

1-24     and that this Act take effect and be in force from and after its

 2-1     passage, and it is so enacted.