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.