By Lindsay                                      S.B. No. 1168

      75R6798 PAM-D                           

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to short-term obligations issued by certain counties for

 1-3     public utilities.


 1-5           SECTION 1.  Section 1(1), Chapter 656, Acts of the 68th

 1-6     Legislature, Regular Session, 1983 (Article 717q, Vernon's Texas

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

 1-8                 (1)  "Issuer" means (A) any incorporated city operating

 1-9     under a home-rule charter adopted pursuant to Article XI, Section

1-10     5, of the Constitution of Texas having a population according to

1-11     the latest federal decennial census of 90,000 or more and having

1-12     outstanding long-term debt secured by the revenues of the public

1-13     utility for which the obligations are being issued which is rated

1-14     by a nationally recognized rating agency for municipal securities

1-15     in one of the four highest rating categories for long-term

1-16     obligations; (B) any conservation and reclamation district created

1-17     and organized as a river authority under and pursuant to Article

1-18     III, Section 52, or Article XVI, Section 59, of the Constitution of

1-19     Texas and by an act of the legislature of the State of Texas; (C)

1-20     any joint powers agency organized and operating pursuant to Chapter

1-21     166, Acts of the 63rd Legislature, Regular Session, 1973 (Article

1-22     1435a, Revised Statutes); (D) any metropolitan rapid transit

1-23     authority or regional transportation authority created, organized,

1-24     and operating pursuant to Chapter 141, Acts of the 63rd

 2-1     Legislature, Regular Session, 1973 (Article 1118x, Revised

 2-2     Statutes) or Chapter 683, Acts of the 66th Legislature, Regular

 2-3     Session, 1979 (Article 1118y, Revised Statutes); (E) any

 2-4     conservation and reclamation district organized or operating as a

 2-5     navigation district under and pursuant to Article III, Section 52,

 2-6     or Article XVI, Section 59, of the Constitution of Texas; (F) any

 2-7     district organized or operating under and pursuant to Article XVI,

 2-8     Section 59, of the Constitution of Texas which has all or part of

 2-9     two or more incorporated cities within its boundaries; (G) agencies

2-10     of the State of Texas (including the governing boards of the state

2-11     institutions of higher education); (H) any hospital authority in a

2-12     county with a population of more than 2 million, according to the

2-13     most recent federal census, or any hospital authority in a county

2-14     that is included, in whole or in part, in a standard metropolitan

2-15     statistical area of this state that includes a county with a

2-16     population of more than 1,800,000, that was created or is operating

2-17     under Chapter 262, Health and Safety Code, or Chapter 264, Health

2-18     and Safety Code; (I) any nonprofit corporation organized to

2-19     exercise the powers of a higher education authority under

2-20     Subsection (e), Section 53.47, Education Code; and (J) a county

2-21     having a population of 2 million or more according to the most

2-22     recent federal census [with respect to eligible projects described

2-23     in Subdivisions (3)(A)(4) and (3)(A)(5) of this section].

2-24           SECTION 2.  The importance of this legislation and the

2-25     crowded condition of the calendars in both houses create an

2-26     emergency and an imperative public necessity that the

2-27     constitutional rule requiring bills to be read on three several

 3-1     days in each house be suspended, and this rule is hereby suspended,

 3-2     and that this Act take effect and be in force from and after its

 3-3     passage, and it is so enacted.