By: Wentworth S.B. No. 1793 Line and page numbers may not match official copy. Bill not drafted by TLC or Senate E&E. A BILL TO BE ENTITLED AN ACT 1-1 relating to the power and authority of the Upper Guadalupe River 1-2 Authority to borrow money for any corporate purpose or combination 1-3 of corporate purposes; amending the Upper Guadalupe River Authority 1-4 Act, Special Laws, Acts of the 46th Legislature, Regular Session, 1-5 1939, as amended; and declaring an emergency. 1-6 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-7 SECTION 1. Chapter 5, page 1062, Special Laws, Acts of the 1-8 46th Legislature, Regular Session, 1939, as amended (Article 1-9 8280-124, Vernon's Texas Civil Statutes) is amended by adding 1-10 Section 10(c) to read as follows: 1-11 Sec. 10(c). (a) The Authority may borrow money for any 1-12 corporate purpose or combination of corporate purposes pursuant to 1-13 the methods and procedures specifically provided by this chapter or 1-14 by general law. 1-15 (b) The board, without the necessity of an election, may 1-16 borrow money on negotiable notes of the Authority to be paid solely 1-17 from the revenues of the Authority derived from the ownership of 1-18 all or any designated part of the Authority's works, plant, 1-19 improvements, facilities, equipment or water rights after deduction 1-20 of the reasonable cost of maintaining and operating the facilities. 1-21 (c) The notes may mature over a term of not more than twenty 2-1 years and bear interest at a rate not more than ten percent. 2-2 (d) The notes may be first or subordinate lien notes within 2-3 the discretion of the board, but no obligation may ever be a charge 2-4 on the property of the Authority or on the taxes levied or 2-5 collected by the Authority but shall be a charge on the revenues 2-6 pledged for the payment of the obligation. No part of the 2-7 obligation may ever be paid from the taxes levied or collected by 2-8 the Authority. 2-9 (e) As the Authority is a special water authority, Section 2-10 49.153 of the Texas Water Code does not apply to any revenue note 2-11 issued by the Authority. 2-12 SECTION 2. Proof of publication of the constitutional notice 2-13 required in the enactment of this Act under the provisions of 2-14 Article XVI, Section 59(d), of the Texas Constitution and the 2-15 statutory notice required by Chapter 313, Texas Government Code, 2-16 has been made in the manner provided therein and a copy of the 2-17 notice and bill as originally introduced have been delivered to the 2-18 governor of the State of Texas as required in such constitutional 2-19 provision, and to all other persons, agencies, officials, or 2-20 entities required to be furnished by the constitution and other 2-21 laws of the state and that notice and delivery are found and 2-22 declared to be proper and sufficient to satisfy those requirements. 2-23 The Texas Natural Resource Conservation Commission has filed its 2-24 recommendations relating to this Act with the governor, lieutenant 2-25 governor, and speaker of the house of representatives within the 3-1 required time. All other procedural requirements for the notice, 3-2 introduction, and passage of this Act have been fulfilled and 3-3 accomplished. 3-4 SECTION 3. The importance of this legislation and the 3-5 crowded condition of the calendars in both houses create an 3-6 emergency and an imperative public necessity that the 3-7 constitutional rule requiring bills to be read on three several 3-8 days in each house be suspended, and this rule is hereby suspended, 3-9 and that this Act take effect and be in force from and after its 3-10 passage, and it is so enacted.