1-1 By: Ratliff S.B. No. 899 1-2 (In the Senate - Filed March 3, 1997; March 6, 1997, read 1-3 first time and referred to Committee on Intergovernmental 1-4 Relations; April 1, 1997, reported favorably by the following vote: 1-5 Yeas 11, Nays 0; April 1, 1997, sent to printer.) 1-6 A BILL TO BE ENTITLED 1-7 AN ACT 1-8 relating to the organization and governance of water supply and 1-9 sewer service corporations. 1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-11 SECTION 1. Section 5, Chapter 76, Acts of the 43rd 1-12 Legislature, 1st Called Session, 1933 (Article 1434a, Vernon's 1-13 Texas Civil Statutes), is amended to read as follows: 1-14 Sec. 5. After the issuance of a charter and annually 1-15 thereafter following the annual membership or stockholders meeting, 1-16 the board of directors shall elect a president, a vice president, 1-17 and a secretary-treasurer and may require of such officers bonds 1-18 for the faithful performance of their duties. At the meeting, each 1-19 member or stockholder shall be allowed only one vote regardless of 1-20 the number of memberships or stock certificates held by the person. 1-21 The annual meeting of the members or stockholders of the 1-22 corporation shall be held at any time between January 1 and May 1 1-23 of each year, at such time as shall be specified by the by-laws or 1-24 the board of directors of the corporation. The salaries of all the 1-25 officers of said corporation except that of the secretary-treasurer 1-26 and of the manager whose salary is hereinafter referred to, shall 1-27 not exceed Five Thousand Dollars ($5,000) per year. The salary of 1-28 the secretary-treasurer shall be fixed by the board of directors at 1-29 a sum commensurate with the duties required of him. 1-30 SECTION 2. The importance of this legislation and the 1-31 crowded condition of the calendars in both houses create an 1-32 emergency and an imperative public necessity that the 1-33 constitutional rule requiring bills to be read on three several 1-34 days in each house be suspended, and this rule is hereby suspended, 1-35 and that this Act take effect and be in force from and after its 1-36 passage, and it is so enacted. 1-37 * * * * *