1-1 By: Gallegos S.B. No. 656
1-2 (In the Senate - Filed February 18, 1997; February 24, 1997,
1-3 read first time and referred to Committee on Education;
1-4 March 20, 1997, reported adversely, with favorable Committee
1-5 Substitute by the following vote: Yeas 11, Nays 0; March 20, 1997,
1-6 sent to printer.)
1-7 COMMITTEE SUBSTITUTE FOR S.B. No. 656 By: Luna
1-8 A BILL TO BE ENTITLED
1-9 AN ACT
1-10 relating to the term of a school district depository contract.
1-11 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12 SECTION 1. Section 45.205, Education Code, is amended to
1-13 read as follows:
1-14 Sec. 45.205. TERM OF CONTRACT. (a) Except as provided by
1-15 Subsection (b), the [The] depository bank when selected shall serve
1-16 for a term of two years and until its successor is selected and has
1-17 qualified.
1-18 (b) A school district and the district's depository bank may
1-19 agree to extend a depository contract for one additional two-year
1-20 term. An extension under this subsection is not subject to the
1-21 requirements of Section 45.206.
1-22 (c) The contract term and any extension must coincide with
1-23 the school district's fiscal year.
1-24 SECTION 2. The importance of this legislation and the
1-25 crowded condition of the calendars in both houses create an
1-26 emergency and an imperative public necessity that the
1-27 constitutional rule requiring bills to be read on three several
1-28 days in each house be suspended, and this rule is hereby suspended,
1-29 and that this Act take effect and be in force from and after its
1-30 passage, and it is so enacted.
1-31 * * * * *