1-1 By: Ellis, Lindsay S.B. No. 696 1-2 (In the Senate - Filed February 21, 1997; February 25, 1997, 1-3 read first time and referred to Committee on Finance; 1-4 April 7, 1997, reported favorably, as amended, by the following 1-5 vote: Yeas 10, Nays 0; April 7, 1997, sent to printer.) 1-6 COMMITTEE AMENDMENT NO. 1 By: Zaffirini 1-7 Amend S.B. No. 696 as follows: 1-8 (1) In SECTION 1 of the bill, in proposed Section 53.49(a), 1-9 Education Code (introduced version, page 1, line 38), strike "and". 1-10 (2) In SECTION 1 of the bill, in proposed Section 53.49(a), 1-11 Education Code (introduced version, page 1, between lines 38 and 1-12 39), insert the following: 1-13 (4) is accredited by an organization approved by the 1-14 Texas Education Agency for private school accreditation; and 1-15 (3) In SECTION 1 of the bill, in proposed Section 53.49(a), 1-16 Education Code (introduced version, page 1, line 39), strike "(4)" 1-17 and substitute "(5)". 1-18 A BILL TO BE ENTITLED 1-19 AN ACT 1-20 relating to the issuance of bonds under the Higher Education 1-21 Authority Act. 1-22 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-23 SECTION 1. Subchapter C, Chapter 53, Education Code, is 1-24 amended by adding Section 53.49 to read as follows: 1-25 Sec. 53.49. BONDS FOR CERTAIN SCHOOLS OWNED AND OPERATED BY 1-26 NONPROFIT CORPORATIONS. (a) In the same manner that a corporation 1-27 may issue bonds under this chapter for an institution of higher 1-28 education, a corporation created under Section 53.35(b) may issue 1-29 bonds to finance or refinance educational facilities to be used by 1-30 a school that: 1-31 (1) is located in a county with a population of more 1-32 than 1,800,000; 1-33 (2) is located within three miles of an area 1-34 designated as an enterprise zone under Chapter 2303, Government 1-35 Code; 1-36 (3) provides primary and secondary education to at 1-37 least 1,000 students; and 1-38 (4) is owned and operated by a corporation created 1-39 under the Texas Non-Profit Corporation Act (Article 1396-1.01 et 1-40 seq., Vernon's Texas Civil Statutes). 1-41 (b) Notwithstanding Section 53.34(b), bonds issued under 1-42 this section may be payable from and secured by a pledge of any 1-43 revenue or assets pledged for that purpose. 1-44 SECTION 2. The importance of this legislation and the 1-45 crowded condition of the calendars in both houses create an 1-46 emergency and an imperative public necessity that the 1-47 constitutional rule requiring bills to be read on three several 1-48 days in each house be suspended, and this rule is hereby suspended, 1-49 and that this Act take effect and be in force from and after its 1-50 passage, and it is so enacted. 1-51 * * * * *