By: Ratliff S.B. No. 899 97S0570/1 A BILL TO BE ENTITLED AN ACT 1-1 relating to the organization and governance of water supply and 1-2 sewer service corporations. 1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Section 5, Chapter 76, Acts of the 43rd 1-5 Legislature, 1st Called Session, 1933 (Article 1434a, Vernon's 1-6 Texas Civil Statutes), is amended to read as follows: 1-7 Sec. 5. After the issuance of a charter and annually 1-8 thereafter following the annual membership or stockholders meeting, 1-9 the board of directors shall elect a president, a vice president, 1-10 and a secretary-treasurer and may require of such officers bonds 1-11 for the faithful performance of their duties. At the meeting, each 1-12 member or stockholder shall be allowed only one vote regardless of 1-13 the number of memberships or stock certificates held by the person. 1-14 The annual meeting of the members or stockholders of the 1-15 corporation shall be held at any time between January 1 and May 1 1-16 of each year, at such time as shall be specified by the by-laws or 1-17 the board of directors of the corporation. The salaries of all the 1-18 officers of said corporation except that of the secretary-treasurer 1-19 and of the manager whose salary is hereinafter referred to, shall 1-20 not exceed Five Thousand Dollars ($5,000) per year. The salary of 1-21 the secretary-treasurer shall be fixed by the board of directors at 1-22 a sum commensurate with the duties required of him. 1-23 SECTION 2. The importance of this legislation and the 2-1 crowded condition of the calendars in both houses create an 2-2 emergency and an imperative public necessity that the 2-3 constitutional rule requiring bills to be read on three several 2-4 days in each house be suspended, and this rule is hereby suspended, 2-5 and that this Act take effect and be in force from and after its 2-6 passage, and it is so enacted.